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Consider what happened to Spain as the Age of Discovery wore on.
The wealth that they had looted from the New World was so vast that the
price structure ballooned so far out of porportion that it became
far cheaper to import goods than to hire Spaniards to make them.
Adam Smith's description is more eloquent than mine but I'll
paraphrase his epigram, "Even the beggar uses a silver bowl to beg."
We don't have the skills now that make the back bone of a
productive manufacturing system. We could not put a man on the
moon without outsourcing. The Chinese could.
bs
On Sat, 3 Nov 2007, Eugene Smiley wrote:
> Art Alexion wrote:
> > I've gotta support Matt here. We've been gradually sold a bill of goods as we
> > have stopped seeing ourselves as "workers" and started seeing ourselves
> > as "consumers". As consumers we are in a race to the bottom economically.
>
> I hear 'consumer' and the first thing in my head is, "Mooooooooo!" Off to the
> slaughter house...
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