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Conclusion

In: The Pathology of the U.S. Economy

Author

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  • Michael Perelman

    (California State University)

Abstract

In this book, I have tried to demonstrate the fallaciousness of the commonly held conviction that the logic of competition somehow compels U.S. workers to lower their standard of living in order to compete. This Haitian road to development cannot not succeed. If lower wages would give the United States an edge, other countries, including Haiti, would lower their wage levels as well until wages world-wide would fall to a bare subsistence level. The austerity of the Haitian road only promises a greater emphasis on low-wage service jobs and more self-defeating cut-backs in education and infrastructure, further crippling productive capacity.

Suggested Citation

  • Michael Perelman, 1996. "Conclusion," Palgrave Macmillan Books, in: The Pathology of the U.S. Economy, pages 221-221, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24329-7_9
    DOI: 10.1007/978-1-349-24329-7_9
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