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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: gpowell who wrote (17085)2/11/2004 2:13:58 PM
From: GraceZRead Replies (1) of 306849
 
I am still waiting for you to present a coherent case for a lower capital efficiency producing a net gain to the US.

No rational person could make this argument, it's an emotion argument not based on logic and reason.

I don't think most understand the wide spread long term benefits of portions of the workforce continually being pushed out of jobs that we can no longer maintain a competitive advantage. History has proven this over and over for those who are willing to compare our relatively free market competitive system with those economies that have practiced some sort of protectionism and centralized planning. The very reason we now have a huge nation like China with such a much lower cost of labor has to do with their years of maintaining a largely closed system, which improvised 3 billion people while the countries with relatively free open competitive markets became wealthy.

Yet we still get people thinking we can move in that direction, just a little, a hybrid of "free market" and managed. The problem with this suggestion is that any attempt to manage the displacement of workers means the government interferes with the one most important feed back mechanism which is price. Labor has a price like any other input and artificially supporting it results in misallocation of resources, not the least of which is human capital.
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