Brad De Long wrote:
>
>Imports from countries with GDP per worker levels less than half that
>of the U.S. amount to 0.9% of U.S. GDP. Even if all those goods were
>obtained by the U.S. at a price of only 1/3 their fair value, that
>still means that less than 2% of the American standard of living
>comes from exploitation of the Third World.
Does "imports" here include goods produced by U.S. companies in foreign countries, or just by foreign-owned sources? How would savings created by use of cheap Thirld World labor factor into this?
Chris Doss
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