What do we really trade for all of the cheap stuff we buy? From 1980 to 2010, the U.S. lost 90% of its apparel manufacturing jobs. Because of this offshoring, our clothes cost 1/3 less in constant dollars today than in 1980, so we spend double what we used to and have three times more consumer debt as in 1994.
What do we really trade for all of the cheap stuff we buy? From 1980 to 2010, the U.S. lost 90% of its apparel manufacturing jobs. Because of this offshoring, our clothes cost 1/3 less in constant dollars today than in 1980, so we spend double what we used to and have three times more consumer debt as in 1994.