Economy's Rescue Only Half Done - WSJ.com
Perhaps the focus on manufacturing is also a red herring.
It's an appealing red herring because the jobs and the education required to hold those jobs were looked upon as lifetime employment.
As industry replaced agriculture and information replaced industry, societies have had to undergo wrenching changes. Right now China is undergoing the change from an agrarian to an industrial economy, while also leaping into the information age.
California (before the taxes and burdens of State entitlements crippled it) had found a way by attracting the best and the brightest to have a thriving economy that rapidly absorbed new workers with jobs that continued to be able to offer higher and higher wages. This is what one would think the country should be looking for.
It's all nice and good to think there were halcyon days of lifetime manufacturing work with a high school education; but, just as mechanized farming replaced hand labor, so that people were suddenly able to eat better and only 1-2% (vs. 98% in the Middle Ages, with most people never having enough to eat) of society could grow all of society's food; so the US has to recognize that either additional capital or low cost labor are now providing more goods at lower cost.
The government is failing its citizens who want to move ahead by deciding it has to keep giving out benefits and spending resources that need to go into the economy as 'additional capital' into 'additional personal consumption'.
The governmental entities that have been doing this the longest, with the most deleterious effects - e.g. California and Michigan - should be a warning of what's to come. Sadly, they are the model for the Obama/Pelosi administration.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment