tag:blogger.com,1999:blog-6182119.post1793537377159140977..comments2024-03-28T10:36:31.949+00:00Comments on House of Dumb: HumbuggeryDJhttp://www.blogger.com/profile/00446322024174274621noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6182119.post-69298462796033263362010-03-09T17:01:32.128+00:002010-03-09T17:01:32.128+00:00Yes, but .... well, the whole process was started ...Yes, but .... well, the whole process was started under Thatcher, as Parris is well aware, and continued under Major and Blair. It's known as the "global free market". It all sounds good when all you consider is that it means cheaper tellies and t shirts at £3 for three.<br /><br />Unfortunately, the global free market applies equally to jobs and wages. We can not expect to earn 20 times more than someone doing the same job just as well in some developing country. <br /><br />The market will adjust - that is the nature of markets - and that means that either the wages and living standards of the untold billions in the developing world suddenly leap 20 fold - or those of the 60 million in this country drop substantially.<br /><br />I'm not expecting the average wage of the Chinese and Indians to leap up to around £20,000 per year anytime soon so ......<br /><br />Don't bank on these mythical "new technologies" and "innovations" to save us either. It would require supreme arrogance to assume that there is anything left that we can do that China or India could not do just as well if not better (and a lot lot cheaper). They are, after all, the ones producing hundreds of thousands of highly qualified graduates every year - and they are graduates with real degrees in engineering, science and technology - not media studies, art history and pop music.Stanhttps://www.blogger.com/profile/15007863347348182876noreply@blogger.com