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URL:  http://boards.fool.com/quotcompeting-with-cheap-overseas-labor-has-27431972.aspx

Subject:  Re: OT: Man in the White Suit Date:  2/11/2009  4:04 PM
Author:  pauleckler Number:  25939 of 35400

"Competing with cheap overseas labor has certainly been a major factor in job losses and reduced wages, just as waves of immigrants to this country provided cheap labor in the 19th and early 20th centuries (and provided cheaper labor in the North than slavery did in the South)."

Of course this situation implies the merits of protectionism, limited immigration, and even the old colonial system where advanced economies were supported by low cost imports from colonies held at primitive levels.

We have shades of all of this currently under discussion under various names. "Buy American." Immigration reform. Reduced outsourcing.

I think modern society demands our present system over the old ideas. But competition is stiff. That does make it harder to maintain a high standard of living. Still, developing countries are major markets for future growth--if only we made something they wanted.
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