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<p>[QUOTE=&quot;Cloudsweeper99, post: 1491081, member: 3011&quot;]I suppose that if all socialistic policies on work and welfare disappeared, the &quot;poor&quot; would have to work for whatever wage they could get.&nbsp; Nobody in NJ can raise a family on minimum wage, so forget about 1/2 or 1/4 minimum wage.&nbsp; Of course, housing would be abandoned as even modest apartments would be unaffordable, and third world type slums built from construction debris would suffice.&nbsp; And people could supplement their wages and hunger with crime.</p><p><br /></p><p>When David Ricardo postulated his theory of comparative advantage, the standard of living among the countries he discussed was comparable, and this made free trade feasible.&nbsp; Now we are in a situation where China and its neighbors have a low enough labor cost that they possess an absolute cost advantage in everything if you assume no government interference in the transfer of capital or technology.&nbsp; And as they move their population into the workforce, they will be able to produce nearly every manufactured good consumed in the world at a lower cost than everyone else.&nbsp; If free market capitalism persists, it’s game over for the middle class people in the West and all standards of living will have to fall [or “harmonize” as the globalists like to say] to the level of China.&nbsp; So oddly enough, capitalism might redistribute the wealth faster than socialism ever could.&nbsp; </p><p><br /></p><p>It’s ironic that those job killing regulations might be the only thing saving the jobs.&nbsp; And I&#039;m not so sure life was better when there was no minimum wage, no limit to work hours, no child labor laws, and no job killing safety regulations.&nbsp; I think you underestimate the downside of unfettered capitalism.&nbsp; Henry Ford is said to have raised the wages of his employees so they could purchase the cars they made.&nbsp; I&#039;m afraid there are no Henry Fords anymore, and morality is a quaint ideal of a bygone era.&nbsp; Today&#039;s elite are out to secure the wealth of the world.&nbsp; I think Atlantic magazine did an article a couple of years ago on the attitudes of the wealthy toward the rest of society by interviewing many of them.&nbsp; The results were disturbing.[/QUOTE]</p><p><br /></p>

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