I wax on constantly about the impact of a billion new Chinese laborers being tacked on to our labor force. The problem is not as simple as outsourcing by itself. It's what's in the head of every employer when they hire a new worker: the knowledge that there is a virtual ocean of nearly free labor available online or offshore.
This understanding is so widespread that even NFL football owners won't yield to the demands of a union – any union. The NFL has annual revenue of $9bn and the referees aren't even asking for a raise – they just want to keep their current pension benefits. The league wants to cut them by $3mm/yr.
That's 0.33% of revenue.
Scott Walker and David Koch must be advising the NFL. Union busting has become a part of our culture – just listen to talk radio. Yes, organized labor went way overboard thirty years ago but now the pendulum has swung so far that we have officially entered a race to the bottom verses the Viet Namese – there will be no winners.
Peasants can't afford football tickets… or iPhones.