Saturday, August 19, 2006

 

What scares Greg Mankiw

"So Lamont seems to think the U.S. economy is suffering and the primary reason is competition from poor workers in China.

This rhetoric scares me. Wages, benefits, and labor and environmental standards are primarily a function of the level of economic development. Complaining about poor countries' low wages and benefits is essentially blaming the poor for being poor."

Here’s his original post.


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