Friday, July 16, 2010

The Father of Reaganomics on Offshoring

Paul Craig Roberts writes, "The problem that the US economy faces is far more serious than the financial crisis resulting from financial deregulation" — Economics in Freefall. "The reason that traditional monetary and fiscal policies cannot produce an economic recovery is that so much of the US economy has been moved offshore," he continues. "As the jobs have departed, there is no work to which low interest rates and massive government spending can recall workers. This is the real freefall."

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1 Comments:

Anonymous Walt said...

This is a lot like of what I've read at the Distributism website you've linked to. Also, Barry C. Lynn, recently wrote a book called Cornered about the consolidation and offshoring of manufacturing, and how competitive markets have been eliminated in a lot of domestic products. He recently had an article up about it Who Broke America's Jobs Machine? Our "corporatist" economy is only working for fewer and fewer people. Exactly what Adam Smith was criticizing about the British economy in his time in An Inquiry into the Wealth of Nations

Barry Lynn's article is here: www.washingtonmonthly.com/features/2010/1003.lynn-longman.html

5:42 AM  

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