Paul Krugman's takedown of Trump's economic blatherings.

[Kinser79]

(05-18-2016, 05:05 PM)Mikebert Wrote:

(05-18-2016, 04:44 AM)Kinser79 Wrote:

(05-17-2016, 09:18 PM)playwrite Wrote: Really?  When an Chinese-manufactured iPhone sells anywhere in the world, how much of the revenue goes to China v. US?

Even if most of the profit is repatriated to the US for ishits, do you honestly think the Chinese couldn't introduce knockoff ishits on a moment's notice?  How many different products do the Chinese copy directly?  Quite a lot. Everything from handbags to watches, a cell phone wouldn't be a huge leap for them.

Platform companies was a concept proposed by GaveKal research.  I wrote an article in 2005 about these where I made this very point.  Others have made the same sort of argument in a more formal way.

Interesting links. The formalized economics jargon most of the time flies over people's heads here so should I use them in the future I'd still have to dumb it down. That being said a trip to Wal-Mart or a walk down the aisle in the local flea market one will find things that aren't food all come from China (though even the Chinese are outsourcing textiles these days--the labor content in cotton clothing is so great that wages have to be minimized and automation is difficult).

In that very same flea market they will find everything from fake rolexes to fake gucci handbags and yes even Chinese pirated DVDs. I can't tell you how many times people have tried to sell me shit I don't need on my way to "The Pickleman's" stall at the flea market.