I agree with sending manufacturing jobs overseas. The only way to create an industrial economy, necessary for further development, is to create industry. Wealth is only finite at a given point in time; investment of wealth now increases the future availabity manyfold. The "Third World" nations suffer primarily from a lack of investment capital. They have (overall) few national resources useful either for their own economic development or for export, and lack the existing industrial infrastructure to utilise what they do have well enough to provide for their population. Building factories there leads to a net intake of capital, if not money, and so helps them along to the point where they, as a nation, have the tools they need to develop further. Monetary distribution is a very different problem. This is a case where wealth is, essentially, finite, as prices are as much dependent on total wealth available as they are on the average. In the U.S., a CEO makes several thousands of times what his lowest paid worker does. For example, the chairman of the NYSE made $140 annually, with benefits. The salary alone is enough to provide necessities for more than two thousand families. Clearly, only a small change in the wealth distribution could solve the problem of poverty in America forever. Similarly, it would not take a drastic decrease in the average American's standard of living to export a large amount of capital to developing nations, if that capital were taken from profit margins and upper management, rather than stuck to the most "expendable" employees.
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