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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.

dotcoma · May 7, 2005, 08:04 pm

Interesting but I disagree. I think America and the West in general have used dependancy theory to make products such as dvd players and such into raw materials. That is, the real money is being made domestically, and the service people in the states make more cash than the labor that for the most part will always be held down due to the lack of investment in the country.

Imudman · Jun 1, 2005, 10:33 pm

I'm no economist (not even close!), but I completely disagree based on what I know about how the world works. Since money makes the world go around, and most of the money in the world is held by people who want to keep it, and as long as the USA has the most powerful miltary in the world, then I don't think there's any danger in the economy crashing...

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

Jun 1, 2005, 10:33 pm	#3 (permalink) (top)
Imudman Calcium Oxide Rocks! Location: Big Valley California Posts: 94	I'm no economist (not even close!), but I completely disagree based on what I know about how the world works. Since money makes the world go around, and most of the money in the world is held by people who want to keep it, and as long as the USA has the most powerful miltary in the world, then I don't think there's any danger in the economy crashing... My name is Mud

May 7, 2005, 08:04 pm	#2 (permalink) (top)
dotcoma Volcanic Erupter Posts: 3,154	Interesting but I disagree. I think America and the West in general have used dependancy theory to make products such as dvd players and such into raw materials. That is, the real money is being made domestically, and the service people in the states make more cash than the labor that for the most part will always be held down due to the lack of investment in the country.