Fixing Our Economy and Country
America’s economic system is no longer functioning. The continued loss of our industrial base coupled with the subprime crisis, decline in the housing market, tightening credit and rising deficits have all devastated the economy.
Just how do we get out of this mess? Copying Japan, one of the world’s most successful economies, may be the answer.
Decades ago, U.S. industrial supremacy seemed unstoppable due to the fact that competitor nation’s economies were still reeling from the bombs dropped during World War II.
From the charred ruins of factories and cities, nations rebuilt and the global economy changed. In turn, America with high quality control standards, good worker benefits and strict adherence to free trade doctrines, was left seeing its debts skyrocket and good paying jobs outsourced to third world slave-wage countries.
But there is an answer to revitalizing manufacturing, correcting our gluttonous balance of trade deficit and reducing our dependence on imports- copy Japan’s economic model.
Japan rebuilt after WWII and focused on industrial and technological development. With a clear vision, and a proactive government supporting capital and knowledge intensive industries, Japan has risen to the point where they have become an economic super power. Economist Eamonn Fingleton elaborates…..
| For a decade now, the western consensus has been that Japan is an economic basket case. But this is a dramatic misreading of a perennially secretive society. Indeed, it may come to be seen as one of the most significant misreadings in economic history.
The geopolitical implications of this misunderstanding go far beyond Japan or east Asia. The myth of Japan's "collapse" has encouraged the west to imagine that the east Asian economic model (largely an extension of the Japanese model) is inherently flawed. Beyond a certain point, the argument runs, a nation must embrace the Anglo-American free-market model or flounder. … On the contrary, the wider Japanese economy has quietly thrived-so much so that, in many of the ways that matter to Japanese policy-makers, Japan has actually now surpassed the US to become the world's leading economy. In particular, measured in terms of its ability to project economic power abroad, it is Japan, not the US, that is the world's leading superpower.” Read the rest of the article here. |
Copying Japans industrial and technological intensive model will revitalize our industrial base and turn our outsource plagued, import-driven, debt-ridden economy around.
An America that has no industry is an America doomed to escalating debts and diminishing standards of living for its citizens. It’s time we look to the model of our neighbors from the east for solutions to our current economic plight.
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This Work, Fixing Our Economy and Country, by Tom Rafter is licensed under a Creative Commons Attribution-Share Alike license.
Copyright © 2007 EconomyInCrisis.org
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WHY IS HARRY DINGEY THE ONLY PERSON IN AMERICA TO FIGURE THIS OUT?
Make no mistake about it the International Trade Deficit must be balanced if America is to SURVIVE. There is only three ways to correct this humongous Trade Imbalance.
1. Increase the American Exports by $450.6 Billion Dollars per year. This is absolutely impossible.
or
2. Decrease the American Imports by $450.6 Billion Dollars per year. Then manufacture the merchandise in America.
or
3. Produce all Imports in America. Do not worry about Exports. This is completely controlled by American Congress.
I am suggesting we do number three. This can only be done by the American Congress and will automatically bring the large American Manufactured Goods Trade Deficit into BALANCE almost over night. Where Exports + Imports = Balance of ZERO.
I CAN CREATE 15 MILLION JOBS ALMOST OVER NIGHT right here in America !!!
Here is my Job creation Computations:
+++++++++++++++++++++++++++++++++++++++++++++++++
Total USA Imports in 2006:
----------------------------------
$ 2,211.7 billion ----- Total Imports.
$ - 309.4 billion minus -(Money spent on Imported Crude Oil)
--------------------------------------------------
$ 1,902.3 billion / 30 billion=63.41 million jobs lost from Imports.
==================================================
Total USA Exports in 2006:
----------------------------------
$ 1,451.7 Billion / 30 billion=48.39 million jobs America Created from Exports.
If USA Pulls out of NAFTA and WTO right now:
USA would absolutely gain a total of 63.41 million Jobs by Manufacturing all IMPORTS right here in the USA.
So, 63.41 minus 48.39 = 15.02 million NET JOBS GAIN. But, a lot of Exports must be purchased in the USA. That would mean an even larger number of jobs created in America than I have estimated.
Also, I should note that I have subtracted out the $309.4 billion dollars that America spent on Import Crude Oil in 2006. This is another problem that must be solved later.
My calculation means an ABSOLUTE 15.02 million Jobs gained if the rest of the world did not buy even one penny of USA EXPORTS.
SO MOTE IT BE. . . . .
Do you truly want to help straighten out the United States Government now? Then, copy and post this article everyplace on the Internet you can post.
BY: Harry Dingey
Have a good day my friends.
Knowing the current situation of our economy is very crucial. We have to be vigilant as to secure jobs. I hope for a very soon recovery from recession.
While copying Japan will seriously benefit us, unless Japan works with the USA to help achieve that success - dark days are ahead for Japan. That is because China will quickly replace all the Japanese exports with same quality but less cost.
The best bet for the Japanese is to help improve American Economy thus can have a secure place for their exports. Otherwise, if America goes down, so would Japan. It is an interesting conundrum!
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