"You could say, as many do, that shipping jobs overseas is no big deal
because the high-value work -- and much of the profits -- remain in the U.S.
That may well be so. But what kind of a society are we going to have if it
consists of highly paid people doing high-value-added work -- and masses of
unemployed?

Consider this passage by Princeton University economist Alan S. Blinder:
"The TV manufacturing industry really started here, and at one point
employed many workers. But as TV sets became 'just a commodity,' their
production moved offshore to locations with much lower wages. And nowadays
the number of television sets manufactured in the U.S. is zero. A failure?
No, a success."

I disagree. Not only did we lose an untold number of jobs, we broke the
chain of experience that is so important in technological evolution. As
happened with batteries, abandoning today's "commodity" manufacturing can
lock you out of tomorrow's emerging industry.


The first task is to rebuild our industrial commons. We should develop a
system of financial incentives: Levy an extra tax on the product of
offshored labor. (If the result is a trade war, treat it like other wars --
fight to win.) Keep that money separate. Deposit it in the coffers of what
we might call the Scaling Bank of the U.S. and make these sums available to
companies that will scale their American operations. Such a system would be
a daily reminder that while pursuing our company goals, all of us in
business have a responsibility to maintain the industrial base on which we
depend and the society whose adaptability -- and stability -- we may have
taken for granted."

http://www.bloomberg.com/news/2010-0...ndy-grove.html

Seems some people are begining to think that steering america towards a
service based eccomony
may be the biggest blunder in the last 30 years. The theory has not lived up
to reality, in fact we are now
feeling the effects. Trickle down theory has left most americans living
under wall streets dinner table
getting ****ed on by wall street bankers as thier jobs are be sent off
shore, grobbling for the crumbs
that fall off the bailout table.

Best Regards
Tom.