tag:blogger.com,1999:blog-5867260065662559631.post995426485700173580..comments2024-03-28T13:30:14.573-07:00Comments on CanSpeccy: GLOBALIZATION IS GOOD (For the Rich)CShttp://www.blogger.com/profile/03399620869685840906noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-5867260065662559631.post-27206288181437892202013-07-28T08:35:03.774-07:002013-07-28T08:35:03.774-07:00But whether the net result of cutting Facebook'...But whether the net result of cutting Facebook's wage bill is an increase or a decrease in the world's sum total of wealth, declining wages sure aren't helping American adults, four in five of whom, <a href="http://bigstory.ap.org/article/exclusive-4-5-us-face-near-poverty-no-work-0" rel="nofollow">according to AP</a>, "struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream."<br /><br />Still they have food stamps and Fox News, which keeps them from rioting, as did the free bread and circuses provided for the plebs of ancient Rome. CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-23083144372914293262013-07-27T17:49:19.173-07:002013-07-27T17:49:19.173-07:00Here, for those who may be interested, is how Rica...Here, for those who may be interested, is how Ricardo's Rule of Globalization works in the case of Mark Zuckerberg. <br /><br />Every dollar that Facebook saves by hiring a foreign-born programmer instead of a more expensive American-born programmer goes directly to the bottom line. Since FaceBook is <a href="https://www.google.com/finance?q=NASDAQ%3AFB&ei=GGj0UaCANKrDigLbDA" rel="nofollow">currently trading at a price/earnings ratio of 171.53</a>, that means that for every dollar per year saved in programmers' salaries, Facebook's shareholder value is increased by $171.53. <br /><br />Cool, ain't it. <br /><br />But is that wealth creation? Or is it wealth extraction from American-born citizens to line the pockets of stock-holders, including Zuckerberg?<br /><br />Either way, it is a clear example of how lower wages, or in the case of American-born programmers, possible zero wages, on the one hand, translate, on the other hand, into very much greater wealth for the owners of capital. <br /><br />CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-16796496448143445722013-07-27T10:55:48.534-07:002013-07-27T10:55:48.534-07:00The title of Steve Sailer recent blog post: "...The title of Steve Sailer recent blog post: "<a href="http://isteve.blogspot.ca/2013/07/zuckerberg-my-net-worth-only-went-up-37.html" rel="nofollow">Zuckerberg: My net worth only went up $3.8 billion today, so America needs cheaper programmers</a>", nicely captures what we might call Ricardo's Rule of Globalization:<br /><br /><i>Wages plus profits, together, are always the same.</i><br /><br />Or, the poorer American workers become, the greater the wealth of Mark Zuckerberg and the Walton family.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-73315994183139121022013-07-27T09:03:32.373-07:002013-07-27T09:03:32.373-07:00Ron H, remains unapologetic for having falsely acc...Ron H, remains unapologetic for having falsely accusing me of redating a blog post, and doing so for the purpose of deception, but claims, in a post now residing in my spam folder, that he hasn't provided me with any information about his education, knowledge, or experience neither has he mentioned Samuelson or his text in any of my previous comments ..."<br /><br />Which is true, but only so far as comments on this blog are concerned.<br /><br />In any case, I apologize for any statement implying that Ron H has read Paul Samuelson's famous text, <a href="http://www.amazon.ca/dp/0072872055" rel="nofollow">Economics</a>. For all I know, Ron H has read nothing whatever about economics.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-71020593317556626452013-07-27T08:42:19.131-07:002013-07-27T08:42:19.131-07:00Consistent with the low median wealth of Americans...Consistent with the low median wealth of Americans is the low average earnings of the poorest half of American wage-earners, which was <a href="http://canspeccy.blogspot.ca/2013/07/baby-math-for-globalist-groupie.html" rel="nofollow">less than $12,500 in 2011</a>. <br /><br />The low earnings of most Americans explains why 49% of American households receive, <a href="http://online.wsj.com/article/SB10001424127887323539804578259940213918254.html" rel="nofollow">according to the Wall Street Journal,</a> some form government "transfer benefits." It also explains why <a href="http://online.wsj.com/article/SB10001424127887323539804578259940213918254.html" rel="nofollow">more than one hundred million Americans receive some form of food aid</a> from the US Federal Government. CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-50125304130185898252013-07-26T19:52:06.513-07:002013-07-26T19:52:06.513-07:00And here's an interesting thing about America&...And <a href="http://www.zerohedge.com/news/2013-07-23/how-does-america%E2%80%99s-middle-class-rank-globally-27" rel="nofollow">here's an interesting thing about America's not so prosperous middle class</a>: they rank 27th globally in wealth per person: poorer even than the middle class of near bankrupt Spain and Cyprus, and with less than one third the capital of Brits. (who for some odd reason are listed twice in the chart!), and barely one fifth the wealth of Australians.<br /><br />So much for the prosperity wrought in America by globalization. CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-83975230158840112752013-07-26T16:06:36.273-07:002013-07-26T16:06:36.273-07:00Ron H, is a regular commenter at Carpe diem, and a...Ron H, is a regular commenter at Carpe diem, and a globalization enthusiast, without, as he informed me, much knowledge of economics having read only Samuelson's outdated classical text (now he is claiming in a deleted comment to have read Ricardo, but if so, he has done so without much comprehension).<br /><br />In any case, this post understandably causes him some excitement. However, people who dishonestly accuse others of dishonesty, and generally obscure debate with non-sequiturs, ad hominems and rambling comments comprising often ill-informed, mis-informed (<a href="http://canspeccy.blogspot.com/2013/07/baby-math-for-globalist-groupie.html" rel="nofollow">for example</a>) or argumentative statements should understand that they comment here only at my discretion and would probably do well to save their breath. CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-31114989216850063612013-07-26T15:49:26.756-07:002013-07-26T15:49:26.756-07:00See reasons for comment deletion above.See reasons for comment deletion above.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-37983951478931948932013-07-26T15:46:41.135-07:002013-07-26T15:46:41.135-07:00As I have previously indicated, unless you apologi...As I have previously indicated, unless you apologize for falsely accusing me of redating a blog post, and doing so for the purpose of deception, your comments here will continue to be deleted.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-67920437866579901392013-07-26T14:23:36.566-07:002013-07-26T14:23:36.566-07:00This comment has been removed by a blog administrator.Ron H.https://www.blogger.com/profile/17778875977813470690noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-39648370628265507022013-07-26T14:14:11.770-07:002013-07-26T14:14:11.770-07:00This comment has been removed by a blog administrator.Ron H.https://www.blogger.com/profile/17778875977813470690noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-40291191611031512532013-07-26T11:57:19.036-07:002013-07-26T11:57:19.036-07:00For those who may be interested in seeing through ...For those who may be interested in seeing through the lie about David Ricardo and the Theory of Comparative Advantage, a lie broadly disseminated by the proponents of globalization, I have just appended links to other pieces in which I have discussed Ricardo's ideas about international trade.<br /><br />Ricardo was quite explicit that his discussion of comparative advantage assumed no international flow of capital. Had it been relevant when he wrote 200 years ago, Ricardo would undoubtedly have also made it clear that his theory was valid only in the assumption that proprietary technology and labor are internationally immobile.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-52817410104855892362013-07-26T08:35:26.500-07:002013-07-26T08:35:26.500-07:00As I have previously indicated, unless you apologi...As I have previously indicated, unless you apologize for falsely accusing me of deception, you comments here will be deleted.<br /><br />Your reading of Ricardo, incidentally, is wrong. <br /><br />Ricardo's analysis of international trade explicitly excluded the international movement of capital and labor, which is the essence of the globalized free trade today.<br /><br />Your contention that Ricardo offered a "fundamental" argument in favor of international free trade as it occurs today under the auspices of the WTO, NAFTA, etc. is simply wrong and suggests that you have never read Ricardo, or that if you have read Ricardo, you did not understand what you had read.CShttps://www.blogger.com/profile/03399620869685840906noreply@blogger.comtag:blogger.com,1999:blog-5867260065662559631.post-59372992649927280862013-07-26T01:00:46.783-07:002013-07-26T01:00:46.783-07:00This comment has been removed by a blog administrator.Ron H.https://www.blogger.com/profile/17778875977813470690noreply@blogger.com