Comment by goatlover

Comment by goatlover 7 days ago

2 replies

That's not how economics works. The pie is not fixed, it tends to grow over time as there's more trade between countries and their economies get bigger. The global economic pie has increased a massive amount over the past century.

slt2021 7 days ago

the trade has increased because jobs have been offshored, corporations have been running labor cost arbitrage and making a profit from a difference in labor cost in US vs elsewhere

  • freeone3000 7 days ago

    And as with most arbitrages, costs have lowered as a result. It means a piece of technology with thousands of individual parts can be in your hand for $200. Labor efficiency differences have resulted in an explosion of value-for-dollar for the American consumer.