Is America Too Corrupt to Keep Up? - Sirota via Truthout

[nashville_brook]

http://www.truth-out.org/david-sirota-is-america-too-corrupt-keep-up67088?utm_source=twitterfeed&utm_medium=twitter


Is America Too Corrupt to Keep Up?

Sunday 23 January 2011
by: David Sirota, t r u t h o u t | Op-Ed

A sovereign nation investing its wealth in its domestic economy seems like a no-brainer, especially during a global recession. But in this crazy age of American politics, even that has become a controversial notion.

(snip)
...China's industrial policy success carries a basic lesson: When a nation couples public spending with incentives that encourage domestic corporate investment, an economy tends to grow its own wealth-building industries. That's simple enough to understand, right?

Evidently, not within our own government. As "Buy China" policies now economically supercharge the world's most populous nation, the White House and congressional Republicans have opposed many of the very "Buy America" proposals that might help us keep up -- and that obstruction has come at a steep price.

(snip)


As Bloomberg News reported during the stimulus negotiations, the U.S. Chamber of Commerce fiercely lobbied against the "Buy America" provisions when Congress debated them, just as the group lobbies against similar proposals today. That may seem strange coming from an organization whose name pays homage to this country. But don't be fooled: The chamber is a front group for huge multinational firms whose first priority is not this nation's economy, but a profit-maximizing business model based on exporting jobs and production facilities to low-wage countries abroad. Those firms, of course, make massive campaign contributions to both parties and such donations come with the expectation of legislative favors -- like, say, killing initiatives to strengthen "Buy America" laws.

Thus, our current position of humiliating weakness. Here we are, supposedly the world's most powerful country, begging the WTO to intervene on our behalf so as to prevent an economic competitor from making basic investments in its own economy. And we're doing this all because our political system is too corrupt to permit a similarly competitive posture here at home.

(snip)

[RandomThoughts]

1. Then they say it is becuase of democracy.

To try to move to totalitarianism.

[Xenotime]

6. exactly.

[mdmc]

2. profits yo!

[Overseas]

3. K&R! Excellent article. "Free Trade" has been very expensive for most of us.

We have lost millions of jobs. Our income has dropped. We have become far less important than the multinational corporations shipping our jobs overseas who can give millions to support compliant legislators.

We're even talking about letting states go bankrupt to free them from the obligation to pay the pensions their workers have earned. Letting professional right wing PR stimulate resentment of the government workers who earned those pensions through their hard work. Instead of

Buying American is another area most of us would support, while our voices are drowned out with "the private sector can do better" dogma that has been proven false in so many areas.

[nashville_brook]

7. i worked for an economic development publication back in the mid 90s

that was focused on selling the notion of "free trade" via the ostensibly benign mission of promoting industrial real estate. it was a horrible job in so many ways, but the worst part was the editorial stance of "move your business to countries with $.30 a day wages!!"

what many people don't realize is that there's a powerful industry behind moving industries to other countries. it's so powerful b/c the cost of doing this sort of business generates enormous commissions by way of the transactions involved. that's part of the grift. but only one part. other facets are more rarified...deals btwn powerful men at the highest levels of econ dev, and that facet works b/c of our focus on quarterly profit reports. there's no incentive for long-term success. the quarter is king.

[Overseas]

10. It is indeed sad that quarterly profits for multinational corporations

have become more important than the long term health of our domestic economy.

We need jobs here at home.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x546128

[The Backlash Cometh]

4. You're knocking them out of the ballpark.

[nashville_brook]

5. :) -- can't take credit for Sirota...

i love his work, though, and get his email and FB updates. he's outside of the beltway...living in Denver, i think. so, he's really got a different perspective on what's worth commenting on.

[The Backlash Cometh]

8. Well, then. You've got a good eye.

[nashville_brook]

16. aw shucks -- :)

[xchrom]

9. this stays with me through out the article.

'China's industrial policy success carries a basic lesson: When a nation couples public spending with incentives that encourage domestic corporate investment, an economy tends to grow its own wealth-building industries. That's simple enough to understand, right?'

[whatchamacallit]

11. Our infatuation with "free markets" (laissez-faire) will be our undoing

An engine will seize if only 1% of it is being lubricated.

[nashville_brook]

14. good metaphor!

neoliberalism is The Shock Doctrine for Dummies.

[Solly Mack]

12. k/r

[moondust]

13. K/R

[Little Star]

15. k&r