Monday Morning Quarterbacking: Trade and Capitalism are Immiserating Edition
Let’s accept two common arguments:
- If we have unfettered domestic capitalism, such as is claimed exists within the United States, over time you will see the rich get richer and the poor get poorer.
- If we have unfettered global capitalism, such as that which manifests itself in free trade around the world, you should be worried that the rich countries will lose all of their jobs while the poor countries take advantage of this. In other words we will see the rich get poorer and the poor get richer.
Seeing as there is actually not one iota of difference between domestic and international capitalism (freely exchanging of private property rights), as a political border doesn’t mean anything in economic theory, we end up with the absurd problem of having to argue, at the very same time, that capitalism makes the rich richer and the poor poorer AND that capitalism makes the rich poorer and the poor richer.