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Or is there really so much domestic policy can actually do?
Now, everybody knows the middle class is dwindling. That’s not a secret.
The left will blame the greed of the corporate elites and the right will blame government taxation and regulations for putting a break on investment.
But what’s really going on here?
A worker in China – a country of 1.5 billion people, 5 times the population of the United States – has an average hourly wage of $1.68, a little bit below the wage in India, another country whose population is above a billion people.
China today is the second largest economy in the world, having recently passed Germany.
Since people like to discuss economics here…
What happens if prices in a market A are higher than those in market B? Well, unless there’s some reason why consumers can’t readily go into market B, they will leave market A and head towards market B, which will force sellers in market A to lower their prices. Market B will raise its prices somewhat, until a new equilibrium is reached.
And globalization has done just that: It was a concerted effort to get rid of trade barriers.
For a while, the west still held sway, in part because of a better-educated population (the value-added thing), but these countries haven’t stayed static in that domain either. India now has accounting firms that will do work for $12 an hour – hardly the wage promised to graduates in accounting in the west. They also make more microchips. China now has an EMERGING middle class – over 100 million people there now own a car (incidentally, an important reason why you’re paying more at the pump – more demand=higher price).
Given all of this, isn’t this whole political discourse misleading?
Isn’t time for western countries to face up to the simple fact the party is over?
As for the automobile sector, right now, North America is competing with Japan. Still an acceptable proposition. But what happens when Chinese vehicles flood the market? There’s no inherent reason a Chinese-made car must be bad. It’s coming sooner or later.
(You may believe everybody has a responsibility to become an entrepreneur then, as you’ll hear Randians say, but who else thinks it’s realistic to have an entire economy based on import-export and financial transactions?).

Other countries are just as mean?? I feel like America is mean in its own ways though.. In stupid ways.. lol Being competitive and cut throating in jobs. Always out to make a buck. Screwing people over with car deals. It is all about greed and corruption in America.
I feel like in other countries though they have their own crazy stuff. They might not have corporations, but they have terrorist they are training and people killing each other and crazy rituals.
So in the end, the entire world has its own ways of being mean and promoting injustice.. It’s all just a matter of how your country handles things. For us BIG BUSINESS is the way. For others TERRORISM is the way. We all have our corrupt niches. Right?

1. Which was NOT a cause of the Protestant Reformation?
corruption in the church
sale of indulgences
Thirty Years’ War
worldliness and greed among church officials
2.Which was NOT an accomplishment of Galileo Galilei?
producing a precise astronomical calendar
creating a powerful telescope
discovering moons orbiting Jupiter
confirming that the earth revolves around the sun
3.Which is NOT a reason democracy failed following most Latin American revolutions?
Military strongmen called caudillos took control of many areas.
Latin America had no valuable natural resources.
Leaders had very little experience with self-government.
Old class systems prevented true equality.
4.Which was NOT used to justify European imperialism in the late nineteenth century?
a new wave of nationalism
a belief in European superiority
creation of a social utopia
social Darwinism
5.Which countries did NOT ally with each other prior to World War I?
Serbia and Russia
Russia and Austria-Hungary
Germany and Austria-Hungary
Russia and France
6.Which was NOT a change called for by Woodrow Wilson’s Fourteen Points?
a new association of the world’s nations
a ban on chemical weapons
an end to secret diplomacy
absolute freedom of the seas
7.Which was not a change that occurred in U.S. society during the 1920s?
More people owned cars.
Women wore new fashions and embraced new styles.
Electrical power became available to more people.
Factories scaled back production due to the poor economy.
8.Which was not a direct cause of the Great Depression?
the stock market crash
decline in farming prices
bank failures
the rise of fascism
thank you and please give accurate answers! this is very important i need to know what to study!