Giant Sucking Sound

In business, margins refer to the difference between the price of a good or service and the cost to produce it. This difference determines profit. Since the 1970s, the United States has entered into trade agreements worldwide to maximize the profits of American corporations and their investors by reducing labor costs and cutting margins. While some Americans have become wealthy from these deals, they have also contributed to the erosion of the middle class as companies outsource jobs to other countries. Ross Perot’s prediction of a “giant sucking sound” as jobs left America turned out to be accurate. Who truly benefits from these trade policies, and who do they harm? Join the conversation and get answers to these questions and more on According2Sam episode #299.

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