Contrary to what “economists” say, economic globalization has been a disaster for American consumers: offshoring has cost millions of Americans their jobs, and we didn’t even get the “cheap goods” we were promised.

In fact, once you account for differences in product quality, stuff is 2-3 times as expensive today as it was 40 years ago—at least when we look at the cost of home appliances.

Here’s how the costs break down.

For a detailed analysis, read my original article on America’s declining purchasing power.

appliances-min

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Posted by Spencer P Morrison

JD candidate, writer, and independent intellectual with a focus on applied philosophy, empirical history, and practical economics. Author of "America Betrayed" and Editor-In-Chief of the National Economics Editorial. Say hi on Twitter @SPMorrison_

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