alt Hacker NewsI don't think that's a particularly bold claim after thirty straight years of moving supply chains overseas. Capital is, inherently, the means of production. The world where we could compete is gone.
I don't think that's a particularly bold claim after thirty straight years of moving supply chains overseas. Capital is, inherently, the means of production. The world where we could compete is gone.
Capital is not the means of production. Capital is capital. If I have a few million dollars in my bank account I don’t all of a sudden have a factory. Remember from economics class you need capital, labor, and the means of production.
Capital inflows are different from manufacturing outflows. The US has historically imported capital which is part of why we have such a large trade imbalance. I’d encourage you to do some more digging here.
> The world where we could compete is gone.
Sigh no that’s just not true at all. We compete hard and fast all day everyday, economy is growing and will continue to do so, and no amount of leftist doomer, Chinese, Iranian, or Russian propaganda changes those facts.