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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: gerard mangiardi who wrote (435794)	7/30/2003 11:31:43 AM
From: Neocon	Respond to of 769667

If, in the long run, there is a trend that undermines growth in the United States, and increases the reserve of unemployed, we will indeed have a problem. I am not a libertarian, and will not give a libertarian answer. As a society, we cannot tolerate high long term unemployment due to off- shore investment, it would cause too many serious problems. However, this is not, in fact, yet a credible problem. Employment did not erode in the '90s, in spite of an enhanced free- trade regime, greater off- shore investment, and exceptional productivity growth. What is supposed to happen pretty much happened: we got cheaper consumer goods, and increased investment in areas where the United States excels. Higher productivity, by increasing the value of the individual worker, actually enhanced employment and compensation, as long as the goods and services moved. One hopes that those will be the long term trends. By the way, NAFTA was instructive. Neither the horrific effects, nor the wonderful ones, predicted by foe or friend materialized, because business did not have sufficient stake in rushing to change. A lot of businesses will not bother to relocate plants overseas, or to constantly retool, because it involves big capital investment, changing patterns of doing business, new problems with supply, and risks that are hard to calculate.......