Regional rivalry hurts U.S. economy

[divideandconquer]

Regional rivalry hurts U.S. economy

Wilbur Ross, Jr., 72, chairman of International Automotive Components Group, says American needs a real industrial policy that would boost America’s ability to compete in the international market without destroying well-paying jobs.

Speaking at the Automotive News World Congress in Detroit, Ross said, “We need a whole industrial development plan. The reality is that industrial development in the U.S. is largely done at the state and local level, and as a result you’ve had this peculiar phenomenon of Southern states spending tens of billions of dollars converting $35-an-hour jobs in the Northeast and the Midwest into $17 an hour jobs in Alabama and Mississippi.” Ross addded, “So, I find it very disappointing that we don’t have an overall industrial strategy because it isn’t just the car industry that’s having growing competition from abroad — it’s every manufacturer.”
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http://www.allpar.com/news/index.php/2010/01/regional-rivalry-hurts-u-s-economy

[Wapsie B]

1. What reallys gets me is we have these economic development hacks at various local levels

across the U.S. doing little more than bribing companies in other parts of the country to come to their area. It's touted as job creation, when in fact they created nothing. They merely transferred jobs from one region to the next. Show me some real initiative. Reward innovation at the local level by those already there. Don't simply dip your hands in the public coffers and act like geniuses in the process.

[Edweird]

5. Skwisgaar is that you?

[htuttle]

2. Capitalist calls for more central planning in economy?

:crazy:

[divideandconquer]

4. Got to compete with Japan's ministry of international trade and the Red army

[Edweird]

3. Race ya to the bottom. Woohoo.

I think I won... :(

[clear eye]

6. You betcha.

Should have included the banks and been a pre-condition for bailout.