Tuesday, November 19, 2013
David Ricardo (Amy Kulm)
There are many products that Britain is not able to produce cheaply with our natural resources. When the products are made in Britain the production can be very expensive. Other countries are able to hold the comparative advantage over us since they are able to make the production cheaper with their natural resources. Britain needs to somehow get that comparative advantage of the other countries in order to boost our economy. We should shift jobs overseas to take advantage of cheap labor and natural resources. Britain will gain the comparative advantage in that country and still maintain control over Britain's. By producing goods where they are the most cheapest we can sell them in Britain for the same price as if they were not produced with cheap labor. That will increase the profit margin. This will be a boost to Britain's economy. If Britain use their comparative advantage and the comparative advantages of other countries it will be the best possible solution to our economy.
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I am sorry, but I do not agree with your thoughts. You are focusing strictly on short term effects of shifting jobs overseas. Of course they offer natural resources and cheap labor, in a short amount of time that would increase profit. You are forgetting the long term effects, which are more important than short term effects. They last much longer and overrule the short term effects. Some long term effects are the countries overseas use the natural resources and cheap labor they already have and grow larger and more powerful using Britain's jobs. If we send over our jobs we would be handing them our business, our profits and our prosperous economy. It wouldn't be a smart move in the slightest. All of our hard work and suffering to create a successful Industrial Revolution would be a waste if we gave it to another country to steal our wealth and success right from us.
ReplyDeleteHerbert Spencer (Samantha Licciardi)
This is the second time I have said this but it WILL NOT WORK! the resources overseas will not last. The demand for products will outgrow the amount of resources, just like population outgrows food supply.
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