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Something’s Gonna Give

Summary:
One of the most sensitive prices in the domestic economy is manufacturing wage rates, given the magnitude and efficiency of global trade in manufactures. Since the early 1990s, of course, manufacturing wages in the U.S. have been hammered by the Great China Wage Deflation. Then again, China’s rice paddies have been largely drained of its […]

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One of the most sensitive prices in the domestic economy is manufacturing wage rates, given the magnitude and efficiency of global trade in manufactures. Since the early 1990s, of course, manufacturing wages in the U.S. have been hammered by the Great China Wage Deflation. Then again, China’s rice paddies have been largely drained of its […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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