The Disputed Truth

“The historic fact is that you get out of a deep recession or depression by working your way out. You don’t get out of it through austerity measures or attacking the unemployed. You didn’t get out of it by giving tax breaks to rich folks. You build or make things. This presents us with an impossible scenario. We no longer make things. The engine that would power our economy back to profitability and high employment is now driving the economies of China, India, and Singapore. What we are witnessing in America today are the results that were predicted but roundly denounced when the whole outsourcing process began. You don’t have to be a Harvard educated economist to figure out that if you ship your middle-class creation mechanism overseas that you will have fewer middle-class people. In fact it’s probably easier to understand if you’re not Harvard educated.”