Comments on: Finding a place in a rebalanced global economy Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 By: phyvyn Thu, 17 Mar 2011 17:00:38 +0000 We are working through some serious growing pains and it does not help that major self-interest groups are playing us against each other for gain of control.

Like the pains during the industrial age we have not completed the intro into the internet age.

It isn’t that there is nothing to do. It is that the value of what’s left is under-valued. Add that the initial job base was not that big to start with however the essential responsibilities are many and not being addressed.

The biggest issue I see is the ‘psychotic break’ where the ‘Wealth-Entitled’ have forgotten their roots which is extremely self-destructive not counting the class war and to say it another way it’s becoming ‘a long way down’ for any who lose their wealth because of the ‘fight at the top.’

Then add a huge dis-enfranchised workforce that has lost confidence and is self-destructing because we feel we do not have value, cannot keep up with our responsibilities and the expectations of those we cannot support anymore.

Family time is being destroyed adding to community insanity.

All this in an age where we are better connected and there is plenty to be done such as undervalued/inadequate health care resources, education including humanities/industry/scientific, infrastructure improvement/upkeep, environment disaster prevention/preparedness.

Something has to give. Question is can we climb from anarchy to maturity? How much will maturity cost in pain and suffering if attainable at all?

Canadian’s need a sense of humor n’est-ce pas?
I do not really mean that – Thank goodness for Canada!

By: Kyle-M Tue, 15 Mar 2011 16:22:24 +0000 Virgil,

In my opinion, a company from one country manufacturing products overseas is not a problem, but takes advantage of the specialisation and differences in efficiencies between countries.

I think this would be just an application of the basics of free trade and specialisation.
If Japan is more efficient at producing computer chips, and Germany is more efficient at producing engines, then if each were to produce only the goods they were specialised in, the result would be an overall increase in total goods produced, benefiting both countries. I think the outsourcing of part of a company’s operations is then just the application of this principle on an organisational level.
So, using the previous example, a German car manufacturer might outsource computer chip production to Japan, resulting in an improved car.

The problem then arises when a country does not produce anything well. As I am from the UK, I can’t really comment on American problems, however in the UK I would say that the previous years of cheap credit, with the financial and housing booms, have diverted the smart people within the labour force into finance, construction, and derived activities, for which there was an artificial demand due to the availability of credit. Many people I know who studied for degrees in Physics ended up working in finance, designing complex financial products for the credit boom, instead of the next generation of capacitors etc. As such, the UK is now looking to increase its exports, but has neglected the industries with which to do so, and must instead prop up an unnecessarily large financial centre.

By: Kyle-M Tue, 15 Mar 2011 15:29:51 +0000 Another excellent article. Well written, relevant, and evident of a great deal of knowledge and insight; I eagerly await each new post in your blog.

I wouldn’t want any changes to the lecture, and just wanted to mention something that came to mind while reading it. Your paragraph mentioning the West’s tolerance of middle eastern authoritarian regimes:

“…the west’s preoccupation with secure oil supplies from the middle east is surely a major reason we have been so tolerant of authoritarian regimes there. But in calling for a geo-economic approach to foreign policy, I am urging something more complex than simply seeing our relationships with other countries as being purely about trade.”

I think even seeing the west’s relationship with the middle east from a purely trade perspective as an oil supply, it’s still in the West’s best interests to have economically stable trading partners. Perhaps the numerous oil shocks of the past few decades resulting from the various conflicts and upheavals in the middle east (as well as the more recent ones), could have been averted, had these oil producing countries been more economically stable and free.

By: vbierschwale Mon, 14 Mar 2011 19:15:39 +0000 There is an alternative that will allow global trade instead of the destitution that is being forced on the World now.

1. It is OK to grow, raise or manufacture your products here in America and sell them to other countries and the same applies to those countries.
2. It is OK to open retail or manufacturing branches in other countries to offset the shipping problems as long as you hire the locals to work in those countries.
3. It is NOT OK to put the people in your country out of work, send the growing, raising or manufacturing to another country and then import those products back into your country.


Virgil Bierschwale
Keep America At Work