| Matthew Rosewarne on 26 Oct 2007 22:08:40 -0000 |
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On Friday 26 October 2007, Toby DiPasquale wrote: > I would caution you, Matt, to perhaps read up on this subject a bit more. > Your statements indicate a clear lack of understanding of basic economics > and the US and world economies. I am well-aware of what is often said about the economics of globalisation. I don't agree with all of it, however. "Top heavy" economies (high commerce & invention, low manufacturing) have a strong track record of suddenly falling over. We and the Soviets rose above the tatters of the post-imperial European economies in large part because of our overwhelming ability to produce material goods, despite the dominance the Europeans previously had over us in terms of banking and education. We will encounter a similar fate if we don't heed the lessons of history, no matter what Wall Street analysts might say. Hopefully, I'll be proven wrong, but unfortunately I don't have very high expectations of that happening. Attachment:
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