by Les Carpenter
Rational Nation USA
Not being an economist, I cannot claim expertise on various economic models. Nor can I pretend to argue exactly what may be the correct model for any given business or household to follow. Sure, I have my beliefs as to what might work best based on my experiences, and from a common sense point of view it is hard to argue with frugal concepts of spending living below or within your means, building a nest egg for the future, and having a small "rainy day" fund to fall back on in times of uncertainty. It all makes sense in a simple and direct sort of way.
The nation's fiscal house is a mess. We have ever-growing debt, the government continues to spend like drunken sailors, we can't seem to find our way away from costly wars, we continue to see our manufacturing base shrink in America as we continue to export jobs overseas. Think about it people - it's absolutely nuts what we have done to our manufacturing base and producers in America.
Among the the industrialized nations of the world I venture to say we are the only nation that lacks a cohesive and consistent national policy favorable to our manufacturing infrastructure and the people that depend on it. Essentially we can thank our unyielding faith in "free trade", and policies like NAFTA for our decline in manufacturing and the loss of American jobs to oversees competitors. It's all there in a remarkably well written and accurate book called "Three Billion New Capitalists." It should be required reading for every ceo, congressman, senator, and president before they assume office. Then they ought to form focus groups and formulate policy based on the truths presented in this book written by Clyde Prestowitz who was counselor to The Secretary of Commerce in the Reagan administration.
Simply put, the book make the case that as the east becomes economically dominate, powered by nations such as India, China, Brazil, and countries in Southeat Asia to name just a few; there will occur a significant shift of wealth to the east. The result is a declining America on the world stage of economic influence and a declining standard of living for our people.
Mr.Prestowitz makes a powerful case that for the U.S to compete and retain a place at the table of economic powerhouses will require thinking differently and outside the box of 19th and 20th century economic models. He also supports a strong central government role in the effort to develop a manufacturing and technological policy that favors and supports our manufacturing infrastructure and provides protections against the trade policies that have put the U.S. were it is today.
I have not the time to address the wealth of knowledge and plain common sense between the covers of "Three Billion New Capitalists." I encourage all those, Republican, Democrats, and Independents who truly care about our nations economic future to pick this book up and read it from cover to cover. Then start talking to and writing your congressmen, senators, and business leaders.
Time is of the essence. Or perhaps the nation prefers to become a total service related country? The choice is ours.
Coming later this week - the current wage disparity in America and it's looming impact on our nations economy.
Cross posted to Rational Nation USA.
by Les Carpenter