June 4, 2007

U.S. an economic leader

If the U.S. wants to remain the sole superpower in the world and an economic leader, it cannot do so by making underwear, pencils, or bedroom slippers. Let low cost countries like China and India make such products, and let the U.S. focus on much higher-value-added products. The U.S. is well placed to make high tech products, because for a hundred years or more, the U.S. has invested in the greatest universities in the world, the best research centers, the most admired financial institutions, and the greatest democratic system. Let's focus on further building on these foundations of a great economy and look ahead to creating the most innovative products and ideas in the world instead of trying to snatch back "underwear" jobs from China. There must be something wrong with an economist who thinks the only way to survive is to compete with the Chinese for jobs. If this is his prescription for American greatness, America has a serious problem.

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