NETWORK FOR ECONOMIC DEMOCRACY Outsourcing—page 2
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Free trade
as an overriding goal for nations facing unemployment due
to insolvency is rejected out of hand. If free trade has
any real value it is to both nations involved its
adoption. Since low cost nations may be suffering from
the lack of technology and know how, they may be made
whole, when subsidies and import certificates are used to
protect high cost nations, by transfers of technology and
know how by deliberate action by all parties. Subsidies have been necessary from the beginning of global trade to prevent the destruction of local economies by destructive cost differentials that could be barred by political action. Economic democracy requires political action for virtually all its goals and reasons to exist in the first place. Import certificates impose of all importers restrictions to guarantee a perpetual balance in global trade. See Warren Buffet's discussion of the matter here. |