| Mish, I just returned from Bangalore and I spent 170 dollars a month to live there, each of the 5 past months. The wage differential will indeed continue to be huge and Manmohan Singh is opening other sectors, such as manufacturing and infrastructure building to FDI. I do not understand how jobs going to India and China relates to the US housing situation in large cities. There is a reason why cities came to existence, as Jane Jacobs and Lewis Mumford have written. Future in the US will, however, belong to the small towns (such as Danville) because, owing to the persistent energy scarcity, people will need to engage in growing their own food, increasingly by animal or human power. My time frame here is 30 years. As to people working from their homes, only a fraction can do it. Others will need to drive, take a commuter train, bicycle, or walk to work as they have over the last 100 years. Working at home is for those in information fields, but in the physical economy must be carried out by other kind of workers. |
