Re: About that self-professed rational liberalism
"Maybe, but the question's still there. If workers are paid peanuts, how will they (who are also customers) be able to afford your goods?"
Because your goods are now cheaper to buy, because your production cost has gone down.
Whoever it was that posted further above that corporations are sending jobs to China to lower wages and pocketing the difference are wrong. The vast majority of 'the difference' is going to lower product costs, and in that sense, it is being 'pocketed' by consumers (i.e. employees). Some corporations (the successful ones) ARE more profitable, but also quite a few of them have gone bust.
It might be the case that median wages in 'the west' are stagnating, but that median wage can now buy you a lot more stuff. Of course it's all more nuanced than that, for example services in 'the west' are still expensive
Biting the hand that feeds IT
