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View Diary: Peasants as far as I can see (169 comments)

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  •  That's where the Henry Ford argument falls apart (7+ / 0-)

    It was logical for Henry Ford to pay his workers decently enough that they could afford his cars, because those were the only consumers he readily had access to.  Today's globalized corporations don't need us anymore - there is no pressure for them to pay us living wages.  Unless we plan to develop a protectionist economy, global competition inevitably will drive our incomes down - truly distressing, but there really is only so much we can do to mitigate it.  Massive investing in education is our best hedge IMO.

    “No, Governor Romney, corporations are not people.” ~ my new Senator Elizabeth Warren

    by Domestic Elf on Tue Dec 11, 2012 at 08:57:12 AM PST

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    •  Protectionism will just make it worse (1+ / 0-)
      Recommended by:
      coffeetalk

      Just like in the 30s with the Smoot/Hawley tariffs.

      (-5.50,-6.67): Left Libertarian
      Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

      by Sparhawk on Tue Dec 11, 2012 at 09:04:52 AM PST

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      •  If that's true then we're screwed (5+ / 0-)

        and we might as well give up.  I don't think it is true.  Protectionism alone will fail, but there are plenty of countries that have done perfectly well for themselves with protectionist regimes.  There's just the matter of rebuilding the manufacturing base and other issues as well.

        The revolution will not be televised. But it will be blogged, a lot. Probably more so than is necessary.

        by AoT on Tue Dec 11, 2012 at 10:00:06 AM PST

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      •  No country (0+ / 0-)

        has ever become an economic power without protecting their home markets. It sure seems to be working for the Chinese.

        "A lie is not the other side of a story; it's just a lie."

        by happy camper on Tue Dec 11, 2012 at 07:51:55 PM PST

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      •  Who uprates this shit? (0+ / 0-)

        oh.

        It's been a hundred years, isn't it time we stopped blaming Captain Smith for sinking the Titanic?

        by happymisanthropy on Tue Dec 11, 2012 at 08:44:46 PM PST

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      •  but (0+ / 0-)

        if they drag the entire planet down, there will be literally no one to sell to.  Their system only works if there are poor people to hire and (relatively) rich people to sell to.  If everyone were as poor as they are trying to make us, they will have no market.

        It's been a hundred years, isn't it time we stopped blaming Captain Smith for sinking the Titanic?

        by happymisanthropy on Tue Dec 11, 2012 at 08:47:34 PM PST

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