In a recent speech by Michael Tanner of the Cato Institute, it was clear that the corporate oligarchy isn't ready to build a broadbased economy in the United States.
Mr. Tanner maintains that outsourcing is good for America.
"Outsourcing jobs has allowed U.S. companies to penetrate foreign markets, be more competitive and hire more U.S. workers at home," states Mr. Tanner.
Mr. Tanner goes on to say "If we're going to sell cars in China, it makes sense to build a plant in China."
In Mr. Tanner's world, we export jobs, not cars.
Here is Tanner's idea of the bright side of outsourcing: 'Overseas profits are brought back to the United States "and then those new profits enable them to hire new and more skilled jobs in this country."
Mr. Tanner doesn't get very specific about what these jobs will be or where they will be found. But we can be sure that trickle-down employment, like trickle-down wealth, will never reach the millions of Americans who need work.
Main Street: 1905
3 hours ago