3.11.2004

U.S. not protecting against outsourcing LDNews.com (3/11)
"The economic "law of comparative advantage" does indeed prove that trade benefits both parties to an exchange. But the economists don't tell you about the "law of factor-price equalization" which says, just as definitively, that foreign trade and investment will force American wages down and raise Mexican, Indian and Chinese wages up until they are all equal. And profits will go up as wages and jobs go down."

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