This Piece holds some distinct information, even if the format is hard to understand, and the column graphs are utilized to put too much emphasis on change. It’s discussion of vertical specialization is concise, but fails to fully cover the impact; as decreased labor employment is not evaluated in the host Countries. What I find most distressing is the lack of study on the Price inflation in the Durable Goods sector during the intervening periods of the two latest Recessions. Jian Wang must be considered a good economist, but the outline of the information is poorly formulated, without discussion of the potential causations of impact decline. The decline of Durable Goods was accounted by an excessive increase in Cost for these items, mainly due to the added Costs of Transport, but also the assumed Wage increase in Production coming from specialization. There is inherently sound economic practice, and then there is unsound business practice which introduces artificial Costs into Production. The introduction of several levels of intermediary Profitability–plus a higher Wage Cost for labor at all levels–defeated the growth of both Imports and Exports.
This compilation pleases me, basically due its defense of the sustainability of a welfare system, when such a system is geared to the protection of the individual–not the protection of the business interests in the social support system. Such welfare works well both in times of Growth and Recession, with little suppression of natural wealth aggregation for the individuals protected. I lack a real basis for understanding the Nordic economies, yet I believe that it is the protection of individual income during times of economic distress which protect the gradual growth of wealth and living standards. The American system of welfare measures fail, all due to the refusal to guarantee the individual levels of Income; insisting instead on what is basically Price supports of essential life maintenance Goods. Designed for the protection of business interests selling such Goods, such welfare protects neither the individuals drawing such aid, or the society as a whole from exorbitant Price structures. A lot of Readers may think I harp on this issue, but the difference in practice between the American and the Nordic systems can means a difference of around 40% in the quality of living standards.
Here is a Post right up my alley. The author does not understand the process of Global editing, where individuals such as myself are ostracized, simply because of the quality of their output. A truly democratic society would allow as more crap to be published, as is quality material. This does entail a Processing Cost, sifting through the trash to find some relevant material to read; does it remind of the Internet. I have long advocated a per-page reading charge for Internet access, rather than the current system of monthly maintenance charge without payment of any kind to the Presenters of material. Of course, this is purely economic self-interest, so that I can go bankrupt with genteel grace. Praise Those advocating Change, even if the context is slightly stupid. lgl