In Common

There are many differences between presidential administrations, some of them gigantic. But on one issue every president starting with Reagan was (and is) doggedly the same. That issue is, of course, an open-border policy for limitless low-skilled mass migration. Rhetoric changes but reality remains.

Before mentioning Trump, please be ready to explain how all those hundreds of thousands of migrants that crossed the border this year managed to get through that big beautiful wall he built.

Oh, he didn’t build one?

That’s my point exactly. Rhetoric changes but policy doesn’t.

2 thoughts on “In Common

  1. Well, what did you expect?

    It’s fractional reserve banking but with labour markets.

    Only when there’s an equivalence in labour quality does the market reward those who trade in it.

    When that doesn’t exist, those in the know hoard quality labour and trade in useful cluelessless.

    It’s why so many jobs went to the PRC: few of those positions were going to compete on quality over price.

    And so this has been represented once again by Hydraulic Keynesianism as a push-pull mechanism: the work of production pushed to China, the work of consumption pushed to the US and most of the West.

    After all, it’s such hard work shopping for oddly conceived widgets at the regional mall. 🙂

    But have you noticed how this fungibility for idiocy (not my first choice of word) doesn’t get represented up the skills chain?

    It’s as if the commodity labour markets only understand commodity production and commodity consumption, and everything else is a kind of vestigial economic and social activity that exists only because the idealised conditions have not yet appeared to make it impossible.

    You could call it “the poverty of neoliberalism” if you were an “obsolescent capitalism” type like Samir Amin, I suppose.

    That’s all lovely, but where is this going?

    Given a choice between betting on market performance and personal performance, almost always the latter out-performs because market behaviour pushes productivity downward while personal behaviour pushes productivity upward.

    Market capital does not understand the eventual obsolescence and replacement of the present day.

    So bet on yourself before betting on a bunch of bankers and investors.


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