You can blame Regan economics for letting loose the reigns that protected American jobs from shipping overseas. You see, the push for cheaper goods means the most expensive elements needs to be eliminated, that of course is labor costs. Wages are the single highest expense for any company (usually).
So the likes of Walmart or Target, or heck any big box retailer, is to pay their grunts minimum wage, reduces costs all around (hey, let's face it, many are masters at efficient production/delivery), and of course, import goods from overseas (it's way cheaper you see.)
At the end of the year, greedy executives will reap the rewards of million dollar profits with million dollar bonuses. forget the notion that this greed is unbridled and will never filter down to peasants, no, we've got a bigger problem.
The problem is ourselves. Stop blaming executives. Yes, we know, they make way too much money. But aren't they living the dream we're all pursuing? MORE MORE MORE? When is MORE enough? probably never unless you have some serious morals/upbringing.
We all feel we're entitled to more and now we're jealous of those who have way too much (I think we're also pissed they exploit so much too....just saying.) BUT, it's our own demand for certain things that's fueling the problem. We all want nice things, we all want more money, and we all want to consume more. However, that cosumption needs to come at a better price.
we all want more but want to pay less.
that's the problem. our consumer attitude demands that goods be created elsewhere. american jobs are directly correlated to the demand for low cost goods. The need to remain competitive outweighs the long term consequences of job loss.
America's population doesn't grow by 20% each year, not even 10%. Yet, we import more and more each year from foreign countries, namely China.
Take a look at this graph for imports to California from China since 1997:
Each year other than the debacle in 2009 saw an increase between 10-20% year over year. That's a LOT of stuff coming in, and it's not slowing down.
So the answer to the problem of jobs and income? Well part of it is you, and what you demand, and the expectations you have to pay. Sure, regulations may help, but you need to demand for it first.
Can you handle it? Or do you insist on your cheap Disney junk and Jersey Shore shirts, or *fill in blank here*?
CCLegalgroup, a group of San Diego Bankruptcy Lawyers provided us with the stats, thanks.