Washington Post,Nov.17, 2008 published Prof. Sachs' article with his views:
"A government supported restructuring of the auto industry is urgently needed for our economic and energy security. The recent ccollapse of annual sales from 17 million vehicles to 11 million, is not permanent but cyclical. Over time, sales will increase especially as people in China, India and other emerging markets become buyers."
Such positive scenario is the dream of the writer but the reality may be competition from carmakers in China and India in the years to come. Prof. Galbraith may be right again in saying that there are those who don't know and those who don't know they don't know. However,such vision may be realized with the proper policy from the government and the high-tech skills of American car manufacturers. Let us wait for the evidence during the course of time.
WashPost,Nov.16,08 on page A6: Economic crisis boils Democratic Message down to jobs.
Such blunt and focused rally-ing cry: "jobs,jobs,jobs" is certainly warranted with the situation today. "Keys for Economic Understanding" pointed out the same thought decades ago in 1960s. History repeats itself but it is more serious as the centerpiece of the agenda in Congress.
George F. Will published his article on 'Socialism'? It is already here as the Heading." Such hyperbole is not harmless" but misleading at best. The expansion of the public sector is needed now and American system is not 'Socialism' per se due to the traditional established root of the private sector.
Francis Shieh a.k.a. Xie Shihao,a student of comparative economics since 1943 to date. November 17, 2008 at 14.15 p.m.
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