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The Water Cooler
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The reality of a minimum wage
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<blockquote data-quote="Frederick" data-source="post: 3004997" data-attributes="member: 17825"><p>I think regulated capitalism and free trade with equally prosperous countries is better for all of us in the long-term.</p><p></p><p>In the short term, permitting unrestricted trade with poorer countries brings exploitation and a depressing of wages in the richer country for obvious reasons. We need graduated regulations on such trade until they have reached a similar level of development, in order to prevent exploitation of foreigners and our own workers.</p><p></p><p>It all went down hill in the '70s when we let China into the WTO and created NAFTA with Mexico. It hurt our jobs and economy.</p><p></p><p>Over time, when Mexico and China and other third world countries become more prosperous, wages and expectations increase, i think we'll see our economy have a huge net benefit from such trade.</p></blockquote><p></p>
[QUOTE="Frederick, post: 3004997, member: 17825"] I think regulated capitalism and free trade with equally prosperous countries is better for all of us in the long-term. In the short term, permitting unrestricted trade with poorer countries brings exploitation and a depressing of wages in the richer country for obvious reasons. We need graduated regulations on such trade until they have reached a similar level of development, in order to prevent exploitation of foreigners and our own workers. It all went down hill in the '70s when we let China into the WTO and created NAFTA with Mexico. It hurt our jobs and economy. Over time, when Mexico and China and other third world countries become more prosperous, wages and expectations increase, i think we'll see our economy have a huge net benefit from such trade. [/QUOTE]
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