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Caterpiller tells Illinois "shape up or we are shipping out"
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<blockquote data-quote="curiousbrain" data-source="post: 820313" data-attributes="member: 31608"><p>This does sort of illustrate the dichotomy of capitalism VS democracy; which is to say that all actors are free to determine their own tax rates, regulations, etc (be they smaller actors such as states or larger actors such as countries). This forces a reactionary posture from all those affected by the decisions of one - maybe this escalates into a race to the bottom (as in lower tax rates) with the inevitable result being that tax rates are so low that municipalities can no longer afford to operate, or maybe this escalates into a race to the top (as in lower tax rates equals more business) with the inevitable result being that so much business is conducted in a select few locations that they hold all the power.</p><p></p><p>I think there is somewhat of an analogy happening here in what is going on in the larger global economy.</p><p></p><p>And, if I may be permitted to blather a moment longer, it is perhaps likely that this is the invisible hand dragging the US (and its constituent actors - i.e. states) into global economic equilibrium; we can fight it with all sorts of policies, and complain (perhaps rightfully so) about how the corporations stick it to the working man, but in the end, this is what Adam Smith was talking about when he wrote about the market being self-regulatory. Even if collective bargaining didn't exist as a concept or a policy, jobs would still move over seas because labor is fundamentally cheaper over there - at some point, there will come a time where the price of labor is proportionate around the globe and at that point, it will stop being a political wedge.</p><p></p><p>As I see it, anyhow.</p></blockquote><p></p>
[QUOTE="curiousbrain, post: 820313, member: 31608"] This does sort of illustrate the dichotomy of capitalism VS democracy; which is to say that all actors are free to determine their own tax rates, regulations, etc (be they smaller actors such as states or larger actors such as countries). This forces a reactionary posture from all those affected by the decisions of one - maybe this escalates into a race to the bottom (as in lower tax rates) with the inevitable result being that tax rates are so low that municipalities can no longer afford to operate, or maybe this escalates into a race to the top (as in lower tax rates equals more business) with the inevitable result being that so much business is conducted in a select few locations that they hold all the power. I think there is somewhat of an analogy happening here in what is going on in the larger global economy. And, if I may be permitted to blather a moment longer, it is perhaps likely that this is the invisible hand dragging the US (and its constituent actors - i.e. states) into global economic equilibrium; we can fight it with all sorts of policies, and complain (perhaps rightfully so) about how the corporations stick it to the working man, but in the end, this is what Adam Smith was talking about when he wrote about the market being self-regulatory. Even if collective bargaining didn't exist as a concept or a policy, jobs would still move over seas because labor is fundamentally cheaper over there - at some point, there will come a time where the price of labor is proportionate around the globe and at that point, it will stop being a political wedge. As I see it, anyhow. [/QUOTE]
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Caterpiller tells Illinois "shape up or we are shipping out"
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