Arguments against relative dating speed dating kalamazoo
Special interest groups put forth various arguments to support their view.
Some of these arguments make a certain amount of economic sense, and others are incorrect or at least suspect. industry has high wages—say, quadruple the level of the foreign wage—but is six times more productive, that industry is still quite competitive with the foreign one. industry, it basically means that the foreign nation has a comparative advantage in that industry. Keeping jobs in the United States is important, but it's more important to keep jobs in industries in which we operate efficiently.
The truth, however, is that those asking for protection from free trade usually stand to benefit the most. What matters is not the level of wages, but the level of wages relative to the productivity of the workers. Also, labor is only one component of the cost of a product. Otherwise, we are subsidizing inefficiency, which hurts national productivity as well as consumers.
The argument that “cheap foreign wages” will destroy a U. If, indeed, another nation is more efficient—has a comparative advantage—in producing a product, it's in our interests to buy it from them.
There is a convenient way to dismiss this survey by questioning the authenticity, methodology, sample size etc.
In a large country like India a sweeping change like this cant be a overnight thought.
Probably it was a bogus argument, the opposition soon realized it and they looked for other reasons. There were 17 changes one opponent pointed out; this depicts that it was a complete failure.
That is why labor unions fight so hard to keep their members' jobs.
But an economist would argue that if another nation can make cars more efficiently, those autoworkers should move into another U. industry and let the whole population enjoy the benefits of free trade with the more efficient auto industry of another nation.