How to create jobs?
Many years ago I was invited by GS for a trip to India (perhaps 20 years ago). It was a small group of CIO's. I believe we pay the plane and not much else. We visited companies in Delhi and Mumbai did some monuments and had some meetings with the government officials and central bank.In one of the meeting we were greeted by Mr Kamal Nath that was the minister of Economy (not sure about this perhaps Finance) and in their address i got the sensation that he mentioned that the ministry gave a permit to export potatoes from state A to B. There had been a flood in state B.
I asked but you need a permit in INDIA to send potatoes from point A to B?
I remember he said something on the lines if you can free trade potatoes the best state/region to do potatoes would do all the potatoes and a lot of people would lose their jobs.
this is why Globalization is deflationary
that is why war in inflationary (barriers to trade or no trade at all)
this brings me to this problem .
If a person doesn’t go to college but works hard at a good job, they should be able to provide for their family. Full stop.
JCP Quarterly letter, (very smart guy)
Trump wants to solve this problem
Trump solution is not letting more immigrants in and creating problems for globalization. I think he has a point. However one day companies will bring production back to the US but have robots doing the job because robots don't strike and don't complain.
My solution would be more on the lines of
don't tax work and tax things. You have a boat you pay, you have 3 cars you pay, you have a plane you pay. you have nothing you pay nothing. The Romans did this, you have 100 slaves you pay. you have 7000 sheep you pay. etc....
to extract money from workers and employees is a stupid strategy if you want people to work and be busy and make a living.
to give money for nothing I think ultimately would lake people unhappy.
to do what Elisabeth Warren proposes to redistribute hasn't worked anywhere. perhaps it will work in USA (i doubt)
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