Volconvo Debate Forums - View Single Post - America’s Has-Been Economy

Asian-American · May 7, 2005, 07:05 pm

I agree with the following article. Do you? Why or why not?

March 15, 2005

America’s Has-Been Economy

By Paul Craig Roberts

A country cannot be a superpower without a high tech economy, and America’s high tech economy is eroding as I write.

The erosion began when US corporations outsourced manufacturing. Today many US companies are little more than a brand name selling goods made in Asia.

Corporate outsourcers and their apologists presented the loss of manufacturing capability as a positive development. Manufacturing, they said, was the "old economy," whose loss to Asia ensured Americans lower consumer prices and greater shareholder returns. The American future was in the "new economy" of high tech knowledge jobs.

This assertion became an article of faith. Few considered how a country could maintain a technological lead when it did not manufacture.

[ . . . ]

Complete article at http://www.vdare.com/roberts/050315_economy.htm

Regards.

May 7, 2005, 07:05 pm	#1 (permalink) (top)
Asian-American Molten Ash Posts: 83	America’s Has-Been Economy I agree with the following article. Do you? Why or why not? March 15, 2005 America’s Has-Been Economy By Paul Craig Roberts A country cannot be a superpower without a high tech economy, and America’s high tech economy is eroding as I write. The erosion began when US corporations outsourced manufacturing. Today many US companies are little more than a brand name selling goods made in Asia. Corporate outsourcers and their apologists presented the loss of manufacturing capability as a positive development. Manufacturing, they said, was the "old economy," whose loss to Asia ensured Americans lower consumer prices and greater shareholder returns. The American future was in the "new economy" of high tech knowledge jobs. This assertion became an article of faith. Few considered how a country could maintain a technological lead when it did not manufacture. [ . . . ] Complete article at http://www.vdare.com/roberts/050315_economy.htm Regards. The shocking historical origins of Liberalism: Click here! The anti-Liberal discussion forum: Originaldissent.com