Posted 5 years ago on Feb. 13, 2013, 5:15 p.m. EST by arturo
from Shanghai, Shanghai
This content is user submitted and not an official statement
The key is to redevelop industries which produce high wages as a minimum, such as manufacturing. In high-tech manufacturing, workers are highly productive, due to their ability to use, and at higher levels of skill, install and repair advanced equipment.
This could be done through a New Deal style economic development program, which would produce millions of decent paying jobs in its own right, building advanced infrastructure.
This would automatically initiate a high demand for high tech manufactured goods, which would also provide high paying manufacturing jobs.
As workers are attracted to these high paying jobs, low paying employers will find it increasingly difficult to attract workers, unless they raise their wages as well. However, This shouldn't be a problem in an economy with lots of good paying jobs, since business will be good for everybody.
This was how the "American System" of economics was originally set up by people like Benjamin Franklin, Alexander Hamilton, Henry Carey and Abraham Lincoln. It's an economic system which results in a win/win solution for everybody.
It's our own heritage, it's what has always worked for us, and it's what we should dump free trade / globalization to return to.