Goodbye to All That

Mike Lofgren: “It remains a fact that outsourcing jobs overseas, while insourcing sub-minimum wage immigrant labor, will exert downward pressure on US wages. The consequence will be popular anger, and failure to address that anger will result in a downward wage spiral and a breech of the social compact, not to mention a rise in nativism and other reactionary impulses. It does no good to claim that these economic consequences are an inevitable result of globalization; Germany has somehow managed to maintain a high-wage economy and a vigorous industrial base.”