It was, but it wasn't applied equally, and the standard of living rose. It also gave everyone cheap stuff, but it also took entry level manufacturing jobs away from US Americans. In the short term, it was great, in the long term it's been devistating.<quoted text>
I can't help but think many jobs would have been lost anyway.
It's not just ipads but parts to everything we use which are made cheaper abroad. We wouldn't be able to sell American made ones abroad as our labor make them too expensive. This has been true for all western countries, save for technologically advanced industries or high value products where labor is less a relative cost.
Conversely Apple, GM, Walmart would not be successful if not for imported cheap goods.
Wasn't one reason NAFTA and other free trade agreements were struck because protectionism and resulting tariff wars were interfering with our companies selling abroad?
Great link, we could all learn from that; thank you.