Re: Stiglitz on Soros--question for Leigh

["William B. Ryan" <william_b_ryan@xxxxxxxxxx>]

---- "Henry C.K. Liu" <hliu@xxxxxxxxxxxxxx> wrote:
> Please forgive me for barging in on this discussion.  The hardware/software
analogy is appropriate perhaps for the virtual economy, but not the real
economy.  Price is never a matter of economics, it is a matter of power.
To talk about predatory pricing of goods without tracing it to predatory
pricing of labor is to balme the victim for the crime.  Economic consideratiosn
only enter the formula if power between trading parties is evenly distibuted.
>
> Henry C.K. Liu
>
> Clifford Poirot wrote:
>

Free markets across national borders lowers everything to the lowest
common standard.  It becomes impossible to improve standards for that
increases the "costs of production."  Raising wages favors the exploiter
of foreign labor.  Cleaning up the smokestack favors the foreign polluting
producer.  Protecting natural resources means squandering foreign resources.
 It is the abnegation of sovereignty.