'Shark Tank' Inventor Loses Big to 'Buy American' Fallacy

[jmdrake]

I want world peace and to end starvation. APPLAUD ME!

And this particular inventor deciding to let his idea be manufactured overseas would cause world peace how exactly? But hey, let's starve em over here so we don't have to starve em over there.

 

[Tpoints]

And this particular inventor deciding to let his idea be manufactured overseas would cause world peace how exactly? But hey, let's starve em over here so we don't have to starve em over there.

yeah, don't outsource poverty, IMPORT IT!

 

[Henry Rogue]

Contradiction? There are good kinds of unemployment as well as bad kinds? Why isn't unemployment by outsourcing/offshoring "freeing people to do other things"?

Your right, it does. Unfortunately the incentive to do other things is lost through welfare/unemployment insurance umbrella. Not always and not for everyone, but there is evidence that many unemployed workers find work once the unemployment insurance is up. I remember reading that in some country, when extending the UI benefit to two years it took that much longer for workers to find work and again when extended to four years. If I'm not mistaken Canada shortened overall time of UI benefits.

 

[Brian4Liberty]

If we take it to the logical conclusion, we could pretty much just sit on our asses and let robots do everything for us. We could have 99% unemployment, and still have more wealth and standard of living than now.

Which is why automation and advances in productivity should result in shorter standard workweeks.

 

[Tpoints]

Which is why automation and advances in productivity should result in shorter standard workweeks.

It usually does, if it wasn't for : increased desire of consumption, inflation, certain regulations.