Fareed Zakaria is the author: The US has the strength and dynamism to continue shaping the world but only if it can overcome its political dysfunction and reorient US policy for a world defined by the rise of other powers.(such as China and India)
Page 29: The decrease in personal savings as the Harvard economist Richard Cooper has noted, has been largely offset by an increase in corporate savings. (Cooper was my colleague at the RAND corporation,Santa Monica,California in 1964-65.)
The US investment picture also looks much rosier IF education and RD spending are considered along with spending on physical capital and housing.(I would concur apropos of education and training as elabored in "Keys for Economic Understanding."
Americans are borrowing 80% of the world's surplus savings and using it for consumption. Americans are losing interest in the basics: more manufacturing, hard work,savings and becoming a society that specializes in consumption and leisure.
Such insights are truly relevant but work should be more important than fishing!
There is an ad for a new book from OECD in Europe: "Workforce Development in a skilled-based economy. Edited by Sylvard Giguere. Such rationale can be found in "Keys for Economic Understanding" stressing skilled labor for American economic development. Developed for the United States Department of Labor in 1965 an published in 1971. www.ask.com for reference.
Francis Shieh a.k.a. Xie Shihao on Monday, June 2, 2008 at 3.04 p.m.
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