I seriously doubt that taking away the minimum wage will satisfy Joe in Pennsylvania. He still loses out to a worker in China who has much, much more purchasing power for that $2/day he gets than Joe will for whatever the lowest amount it is that he'll accept.
I'm also opposed to direct economic interventions- I (presumably) agree with you that it's extremely preferable for any intervention (which has to be
seriously justified) to simply generate new incentives or disincentives instead of throwing a wrench in the market and directly preventing actors from trying out certain paths. That's a big part of why Trump's trade policy- especially his proposed restrictions- is extremely stupid and does not hold up to the slightest amount of economic scrutiny.
I would if you're not putting your regulations on the table forcing companies to move overseas.
That's an extremely flawed narrative. It's not regulations. It's the reality that there's much, much cheaper labor in China than we can get here- because of poverty, because of access to resources, and because of a lack of human rights. Scrap the EPA regulations, scrap minimum wage laws, and I guarantee to you that Rust Belt workers will come back and complain- at the very least about perpetually declining wages.
No serious economic analyst- i.e., someone who got a goddamn degree in the field and is a respected researcher, not someone who just reads shit online- backs your claim here. It's just a straight-up consequence of free trade that we're forced to either maintain comparative advantages or give up on industries where we don't have them.
Regulations certainly won't stop robots, either.
In fact this goes beyond manufacturing jobs. It is easy for people in East Europe and Asia to do the same thing we do here for less.
That's exactly the case. Unskilled labor is cheaper abroad, period, largely due to much lower cost of living and higher poverty rates. Regulations don't make our labor cheaper, for sure, but they are not among the key reasons that we no longer have a comparative advantage in car manufacturing (we weren't going to sustain that for a long period of time, anyway).
Edited 11/28/2016 02:48:11