I was reading an article this morning on social benefit claimants in Frankfurt.
That in one of the world's major financial centres, so many people depend upon government handouts, strikes me as ridiculous. At the same time, I would anticipate that a large number of such people want out of the benefit system.
That requires getting people working.
That requires people earning enough so that they can manage on their own without help.
That means, among other things, repatriating the white-collar jobs from India, and the blue-collar jobs from China, which international corporations have been only too willing to send there, and paying the local going rate.
Things will cost more? Things will cost more! On the other hand, people will buy more goods, there will be more money in circulation, so the profitability graph should not change, though the axes will look different.
Local solutions (not this silly version of the "global economy", and realise that one single version of the global economy does not exist - there are many possibilities) will provide the economic answers.
In the short term people in India and China might suffer, but they too can benefit from local solutions. They can produce goods for their own market more, and less for the rest of the world. Their prices will reflect their lifestyle.
Eventually all, except the speculators, will benefit.
No comments:
Post a Comment