Is it true that it's not foreigners but greed of big firms that's stealing American jobs (profit on US made iphone will be 39% from 64%)?

Answer 1

Favorite Answer

Yes. In capitalism, profit comes first, so many firms will not hire more people than absolutely necessary

Answer 2

It is hard to conclude. The outsourcing American firms to the Chinese firms or the move to produe near the markets in China or elsewhere would improve productivity and competitive power. It is better than to produce in America and bankrupt. It can also suppress domestic inflation and wage rate. But on the other side, America wiilose Detroit and elsewhere in the country. Trade deficits will increase with public debts. America would live on printing dollar which cannot be forever. That is why we had Trump.