Wave Bye to the invisible hand.Farewell to Free-market Capitalism

Washington Post,August 1, 2008 pages D1,D8: Steven Pearlstein has published an excellent article that I have had in my mind for several decades. I always want to compare my thoughts with other observers of the American economy. He wrote: " The internationalist community is already sputtering contemptuously about the triumph of mindless protectionism, and certainly there was some of that. The social and economic costs of the increment of globalization outweigh the benefits for many people, and that reality has been reflected in the political marketplace. In the US,consumers have realized gains from importing goods and the government has refused to deal with the dislocation and economic insecurity that increased trade has spawned, too many lower skilled workers have concluded that they are the inevitable losers. In this connection,"Keys for Economic Understanding" would serve as a reference for training and retraining of American workers to have a marketable skill to find jobs in USA. Cf. "The Future of Community Colleges" published by the Congressional Record,July 18, 1974 with my humble vision since the 20th century.

Francis Shieh a.k.a. Xie Shihao,a student observer for the American economy since early 1940s. August 1, 2008