Arthur Laffer Quotes
You know, without China there is no Wal-Mart and without Wal-Mart there is no middle class and lower class prosperity in the United States.
Laffer, Arthur B., et al. The End of Prosperity: How Higher Taxes Will Doom the Economy--If We Let It Happen. Threshold Editions, 2008, p. 182.
It is very easy for an American company to make parts in the United States, ship them to Mexico for assembly and bring the finished product back. However, for counties like France it is much more difficult.
Bonior and many others believe that NAFTA was the cause of the worker displacement. Others believe that the forces causing loss of well-paying manufacturing jobs—robotic replacement of human workers and offshoring—were already in existence and were reaching their high rates at shortly after NAFTA. Correlation in time does not necessarily imply causation.
Ethan Allan is one of the most traditional American firms which has remained very healthy during globalization by moving only part of its manufacturing off shore. It actually sells much furniture to China which is made in the United States and has created almost as many white collar jobs as it has lost manufacturing jobs.
Fallows was contrasting the benefit that offshore manufacturing brought many Americans in addition to the damage to the Americans who lost their jobs to Chinese manufacturing workers. The complexity was that the offshoring of manufacturing does damage to many American blue collar but benefits white collar workers.
At the time, Australia would not allow Asians in the Country and the United States had severely curtailed Oriental immigration. Ironically, in the 21st century the United States and most of the “white” nations had opened their markets to Asian imports and China, Taiwan, Korea, Thailand all were dominating consumer manufacturing and were in free competition with white labor but there were still de facto restrictions on immigration and Asian guest workers in most white nations.
Arthur Betz Laffer is an American economist and author who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–89). Laffer is best known for the Laffer curve, an illustration of the concept that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for government. In certain circumstances, this would allow governments to cut taxes, and simultaneously increase revenue and economic growth.
