I think the deeper problem is that labor has no pricing power. Capitalism works for more people when people who earn a salary can buy things that increase real demand for companies. But workers are strapped for money, and have no real political assistance or prospects for a better future. Earning a living is increasingly a sucker's game.
Unfortunately, America's political system doesn't allow for a nuanced solution that gently puts the brakes on rampant globalization. Instead, talking heads who only play for ALL THE MARBLES see this as an either/or situation. I believe in the inevitability of globalization. The question we need to ask ourselves is, do we need to get there next week? Can we get there just a tiny bit slower? Can we create an economic space where people not living on space station Elysium (the 2013 movie) can have a life not defined by exasperating financial anxiety?
Aren't unions the way to give labor pricing power? Of course the problem with Unions is that they are a big Prisoners Dilemma game. You need everybody in the union or the people outside of it undercut the whole system.
Globalism makes it extremely difficult to maintain unions without significant government support. Can you imagine a scenario where every textile worker in the world was a member of a union? How horrible would it be if they couldn't be kept as wage slaves and paid pennies per hour out in Bangladesh? Your clothes would cost more for sure.
but, it's more than that because true competitive capitalism would allow prices to come down, but technology companies designing system that don't pass wealth on to consumers. google advertising costs a fortune who pays for it in higher prices? why do companies need to keep upgrading excel?
Unfortunately, America's political system doesn't allow for a nuanced solution that gently puts the brakes on rampant globalization. Instead, talking heads who only play for ALL THE MARBLES see this as an either/or situation. I believe in the inevitability of globalization. The question we need to ask ourselves is, do we need to get there next week? Can we get there just a tiny bit slower? Can we create an economic space where people not living on space station Elysium (the 2013 movie) can have a life not defined by exasperating financial anxiety?