The G20 Summit and Free Trade

Discussion in 'Politics, Religion, Social Issues' started by jnpy!$4g3cwk, Sep 7, 2016.

  1. jnpy!$4g3cwk macrumors 65816

    jnpy!$4g3cwk

    Joined:
    Feb 11, 2010
    #1
    There was a lot of publicity about a sudden shortage of red-carpeted stairways, but, other aspects of the G20 Summit didn't seem to get that much notice. Surprise, surprise, G20 leaders say that free trade enhances economic growth; therefore, free trade is good. From the G20 Leaders Communique:

    So, it is just a failure to communicate that is the problem? Yet, people in many countries feel that the benefits of free trade are not widely distributed. How to ensure that?

    At least there did seem to be some recognition that tax laws need to be harmonized (see 20 or whatever threads on Apple taxes in PRSI.)

    http://www.g20.org/English/Dynamic/201609/t20160906_3396.html
     
  2. Eraserhead macrumors G4

    Eraserhead

    Joined:
    Nov 3, 2005
    Location:
    UK
    #2
    Tax harminisation is good.

    I think our biggest problem is that thanks to high standards and regulation the price of entry to society has got higher. In the UK I'd reckon as a single person it's about £900/month after income taxes and housing - http://www.lboro.ac.uk/media/wwwlboroacuk/content/crsp/downloads/reports/Uprating the out of London Living Wage in 2015.pdf. And yet on the other side thanks to increased efficiency the income needed so you don't need to worry about spending (so basically you can go out as much as you like, employ a cleaner, do any home improvements you like, buy newish cars, go on holiday as much as you like) is probably something like £2000/month after income taxes and housing.

    That's practically communism.
     
  3. cube macrumors G5

    Joined:
    May 10, 2004
  4. thermodynamic Suspended

    thermodynamic

    Joined:
    May 3, 2009
    Location:
    USA
    #4
    Okay, so free trade is good. With stagnant wages, rising costs of goods despite the claim of costs going down because of free trade, higher profits at the top that clearly are not trickling down, what missing links are preventing a better economy for the working class?

    Fair trade: More prosperity for the workers

    Or that's the other thing being discussed.
    --- Post Merged, Sep 8, 2016 ---
    Money is freedom. How is freedom communism?
     
  5. Eraserhead macrumors G4

    Eraserhead

    Joined:
    Nov 3, 2005
    Location:
    UK
    #5
    If the worthwhile difference in spending between the bottom and the top is about 2x that isn't very high.
     

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