Pale Rider
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We didn't just let those jobs move overseas. We pushed them. And we continue o do so. We elected legislators who passed laws that created disincentives for capital investment here. Low wages are only a part of the mix. When I was studying economics, labor export was one of the topics we discussed, and while it is true that there is some capital investment that will always chase lower wages (we watched it here in regional siphoning, from North to South, then West, and then back to smaller towns in the Midwest, and we have watched it happen to the Latin Americans, Indians, and even the Chinese), there is plenty of capital investment that can be encouraged to generate R&D-type jobs and good wages at the same time. Wages driven by state-sanctioned collective bargaining, which are just another type of subsidy, come at the expense of capital investment. And when that capital investment also carries a heavy tax burden, well, the long-term otcome is just what we are seeing: nice stuff designed here but built elsewhere, or moderate to mediocre stuff designed and built elsewhere. But it doesn't have to be that way. Public policy can support both good capital investment and good labor policies. We have been caught up in a cultural war fomented by our own government and elected leaders of all stripes for decades. And we have let them do it to all of us.
Sorry for the diatribe. I remain thrilled with my U.S.-designed and crafted Decware system. Not counting tubes, its only expats are: the very nicely designed, built, and priced Oppo player, the very nice AppleTV, and the mediocre Motorola PVR (there is a sad story).
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