Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Condor who wrote (55053)	10/28/2004 9:09:19 PM
From: Elroy Jetson	Read Replies (2) of 74559

Let's look at another model. Switzerland does not believe that their higher standard of living is a problem to be eliminated. They see it as a virtue. Inside Switzerland, many things cost far more than they do elsewhere (especially food and locally published books) but then the Swiss earn far more than do people elsewhere. The average worker owns a million dollar flat or multi-million dollar home. In the international market, Swiss companies (take Nestle or Novartis for example) have localized production to take advantage of cheap labor in America or Malaysia. The high-value executive jobs are still located in Switzerland. Swiss companies specialize in technological superiority which creates a higher value product produced with greater productivity. One of my extended family is a Vice-President with Nestle. A chemist by trade, he drives his Jaguar home from the office in Lausanne to Blonay sur Vevey and feeds his cows. (If you purchase a home in a traditional hillside pasture area, you are required to maintain the cows) Another family in the village takes charge of the milking. None of the people who live in this beautiful village feels any need to lower Swiss wages to the lowest level in the world. If you wish to build a non-traditional home or paint your home in non-traditional colors - too bad, you can't. Your freedom to annoy your neighbors is strictly restrained. If the Swiss want to see goofy things they go on vacation to Las Vegas. Immigration is strictly controlled. Some Gasterbeiten (Guest-Workers), often from Turkey, are given permits to work in Switzerland. They usually work on road repair or perform some type of construction work. If Switzerland allowed it, they would be over-run with workers from around the world. Swiss businesses would be able to lower their costs. The domestic market would collapse along with asset prices. Most importantly, the lifestyle of the typical Swiss citizen would collapse to a a diminished and pathetic standard. Why should Switzerland pursue this policy? If this isn't a smart policy for Switzerland, what makes it so clever for America? I have already moved my life-savings to Australia. So go ahead and devalue the U.S. currency and diminish the lifestyle of the American citizen - I won't be bothered. But why do you support this policy? .

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