Comment Re:You over-focused on the particulars of this one (Score 1) 285
Actually I think my reply was spot on. I will leave the issue of what is a "fair" wage alone for now to simply say, because U.S. workers were so much richer than the rest of the worlds workers, there was never any doubt but that free trade would depress their wages. That is what has been happening for decades, working class U.S. citizens have been losing ground in wages because they more directly compete with others around the world. The Farm owner may be well off, but it is really is true he or she can't afford to pay too much more than they do now. However at the same time you see increasing wealth in other countries and of course the wealthy are doing even better. This was the expected result of free trade and is what we are seeing. Now I am torn about this issue. I would like people in other countries to have a shot at a good job too and it does seem fairest to give everyone an equal chance. Maybe it will be best for the world in the long term and it kind of seems world wide wealth inequity is being equalized somewhat. None the less, a pretty clear and easy to follow line can be drawn between the working class getting a smaller percentage of the U.S. economy and being able to easily hire someone in another country to do the same thing for less. As for CEO pay, check out some stories about stock holders trying to change CEO pay, many businesses are not the democracies you think they are, indeed they sound more like royal courts or high school cliques when you find out how they really run. OTOH, maybe this will finally be the wake up call for stock owners to look a little more closely at corporate governance rules, after all money in the CEOs pocket comes out of profits just like workers wages, AND there might be a business in another country paying their CEO less and thus be more competitive.