Interesting topic. I would like to see a comparison of the profits earned by
US TNCs alongside a column indicating what percentage of those profits earned
abroad make their way to the American working class. For example, if the
aerospace industry earns $100B a year, how much of it makes its way to US
aerospace workers in the form of income derived from labor, personal savings,
and social services? My guess is very little given the extreme disconnect
between corporate profits and wage growth in the US. I have always thought
that discussions about American economic hegemony were empty if they did not
include a discussion of how income is unevenly distributed within the United
States. In other words, most American workers are completely divorced from the
benefits of US economic hegemony. They are instead harmed by it as the
production of goods moves offshore and job opportunities for the working class
dwindle within the United States. As they make money abroad, American TNCs
also try to keep as much of their profits from American shores as possible to
avoid paying US taxes on them, so the bounty is never shared with American
workers. Instead, foreign workers benefit from TNC profits in countries where
they are reinvested. US economic hegemony is therefore American in name only
and should not be misconstrued to represent the fortune of American citizens
themselves, who are usually harmed by the TNCs. The only Americans who truly
benefit from the success of American TNCs are their corporate executives, who
could care less about the fortunes of American workers themselves.
On Monday, February 24, 2025 at 12:58:55 PM EST, Charles
<[email protected]> wrote:
Refusing to admit that he did not read, Gandall instead tries to deny what I
reported. He states the data does not square with a Starrs-Roberts assertion.
Gandall ought to write the PRC National Bureau of Statistics and let them know.
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