Trump promised voters tariffs are a panacea for the economy, but Walmart finance chief John David Rainey warned they will be inflationary for customers.
Yes, for capitalism to exist, there must be both a consumer class, and a labor class, below the capitalist class. The cost of labor in highly industrialized countries is one of the largest driving factors behind the development of this infrastructure. We need to make sure we can import from places where the cost of labor is low enough, for the long term. Even China, and India, are starting to off-sure labor. The problem is that this, along with population growth, can’t be perpetual. Which is the inherent problem underlining capitalism as a permanent economic system.
Yes, for capitalism to exist, there must be both a consumer class, and a labor class, below the capitalist class. The cost of labor in highly industrialized countries is one of the largest driving factors behind the development of this infrastructure. We need to make sure we can import from places where the cost of labor is low enough, for the long term. Even China, and India, are starting to off-sure labor. The problem is that this, along with population growth, can’t be perpetual. Which is the inherent problem underlining capitalism as a permanent economic system.