Please note that this is a pretty parf-free article:
Globalization Fantasy « Jon Taplin’s Blog
One tidbit:
A couple of weeks ago Gordon Crawford, the most savvy media investor I know participated in one of my “Art of the Long View” seminars. He said that if you masked the name of the countries on a chart of exports, borrowing, industrial output, etc you would think the U.S. was a developing nation and China was the developed nation.
We are in a desperate bind, trapped by conventional thinking. If we look like a developing nation, perhaps we need to seed an industrial base like a developing nation would. That would mean both tax breaks and subsidies for companies who bring their manufacturing back to America or build new plants here. That would mean favoring American manufactured solar cells and wind turbines over Chinese and German imports. I can hear all the free trade economists screaming “No, no”, but when the real unemployment rate hits 21% next year, what will be their answer to the American jobs crisis?