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Ohio Barbarian's avatar

Superb post. China didn't steal any American jobs; American governments incentivized American corporations to outsource them to China in order to break labor unions to keep their labor costs down.

And they succeeded brilliantly! They never considered, nor cared, about the longterm consequences to most Americans and even to themselves. When "more profits soonest by any means necessary" is your motto, you are never going to make a longterm plan.

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PJO22's avatar

There became a point during Reagan’s presidency that shareholders became more important than workers. Up to then things were more or less on an even keel at least projected to be. Companies used to do research and development and focus on quality. Then they started plowing any profits into stock buybacks to reward management and shareholders. They laid off and disposed of their employees at the first hint of a downturn in order to maintain their stock price. Deindustrialization in the US is not the problem. It’s just a byproduct of capitalism run amok. It’s a symptom just like the oligarchs currently running things is a symptom of our capitalism without restraints. Labor unions are and were one of the major equalizers on capitalism. The GOP has waged war on unions for so long that they are now a shell of themselves. There are now few industries or crafts that unions have enough density to positively affect. Money and power is the age old scourge of capitalism. Most people dream about winning the lottery and how they could help people and their communities. Today we have selfish billionaires like Musk, Thiel, Zuckerberg, and Bezos. Are they helping their fellow citizens or communities? I don’t think so.

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