Suppose Wal-Mart had to certify that it could not find any adequate shoes/pants/toys/toasters etc. made in the United States before it was allowed to purchase these items from a foreign supplier. Suppose further that the company and its managers could be fined and possibly jailed if they lied. Odds are that Wal-Mart would not buy much from abroad.
This is the law now for firms that want to hire bright and well-qualified professionals from the developing world, many of whom would be happy to work for less than half the wage of their U.S. counterparts, just as is the case with manufacturing workers. In other words, as BTP regulars know, professionals in the U.S. are protected from competition, less educated workers compete on the world market.
Why is this so hard for the people who write in major media outlets to understand? Someone should ask Thomas Edsall.
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