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  • The Perversion of American Capitalism [View article]
    I believe the author totally misunderstands the dynamic nature of capitalism. Yes, the US does not do the manufacturing that it once did. This was not a plot or moral failing, rather it was the invevitable consequence of a world in which semi-skilled labor is cheap. How can you do labor intensive manufacturing in the US when you can find Chinese to do it for $1/hr?

    This, of course, will change over time. If the US model does not work, then US labor rates will go down (probably via devaluing of the US dollar versus Chinese currency). Then labor intensive manufacturing in the US will make economic sense.

    As far as the welfare programs, etc. Again, when the costs become apparent, we shall see.
    Nov 05 08:17 am |Rating: +1 -2
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