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http://www.askbutwhy.com/2009/08/sir...erview-on.html
Some excerpts:
Sir Fred Goldsmith
"There has been a divorce between the interests of transnational corporations and society"
"There were 4 billion people outside of the free market - separated by ideology and other concerns. These people are now in the free market and will work for nothing"
"In Brazil, the favelas did not exist before the Green Revolution intensified agriculture"
Bringing the 'most efficient' agriculture to the rest of the world means 2 thousand million people out of 3 thousand million people would be forced into mass migration into cities and slums
[how much of China's urbanization migration is due to this?]
"I think that our financial system is extremely fragile. I think that - you can that in the volatility of currencies, you can see all sorts of weaknesses. I believe that there is an incredible amount of danger in things like the derivatives. I think that we are moving towards the outer limits of acceptable risk taking.
...
The figures that I've seen - the world GNP is something in the region of $30T. And I believe that the derivatives outstanding every night - which to a large degree are speculative - from the banking and other institutions are about equal to the annual turnover of the world.
So we've gone very far. Our financial system is dangerous and it could create problems for the real economy."
"People who say - you have to go and build the infrastructure in the 3rd world - I would recommend that you build the infrastructure right here where you need it."
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Laura Tyson - then Chair of the Council of Economic Advisors, now economic advisor to Obama
American workers are more productive and therefore can be paid more
[Doesn't seem to have worked out that way]
http://www.workinglife.org/wiki/Wage...ges+(1964-2004)
www.bls.gov
[seems little relationship between productivity and costs OR compensation]
The GATT Uruguary round will increase exports by leveling the playing field for American corporations in foreign countries. American companies will not move production abroad, rather they will complement existing production.
[The import/export numbers make this a lie]
trade 1994 2008.bmp
Some excerpts:
Sir Fred Goldsmith
"There has been a divorce between the interests of transnational corporations and society"
"There were 4 billion people outside of the free market - separated by ideology and other concerns. These people are now in the free market and will work for nothing"
"In Brazil, the favelas did not exist before the Green Revolution intensified agriculture"
Bringing the 'most efficient' agriculture to the rest of the world means 2 thousand million people out of 3 thousand million people would be forced into mass migration into cities and slums
[how much of China's urbanization migration is due to this?]
"I think that our financial system is extremely fragile. I think that - you can that in the volatility of currencies, you can see all sorts of weaknesses. I believe that there is an incredible amount of danger in things like the derivatives. I think that we are moving towards the outer limits of acceptable risk taking.
...
The figures that I've seen - the world GNP is something in the region of $30T. And I believe that the derivatives outstanding every night - which to a large degree are speculative - from the banking and other institutions are about equal to the annual turnover of the world.
So we've gone very far. Our financial system is dangerous and it could create problems for the real economy."
"People who say - you have to go and build the infrastructure in the 3rd world - I would recommend that you build the infrastructure right here where you need it."
------------------------------------------------------------------
Laura Tyson - then Chair of the Council of Economic Advisors, now economic advisor to Obama
American workers are more productive and therefore can be paid more
[Doesn't seem to have worked out that way]
http://www.workinglife.org/wiki/Wage...ges+(1964-2004)
| REAL WAGES | ||
| 1994-2004 | ||
| Average Weekly Earnings (in 1982 constant dollars) | ||
| For all private nonfarm workers | ||
| Year | Real $ | Change |
| 1994 | 259.97 | 0.72% |
| 1995 | 258.43 | -0.59% |
| 1996 | 259.58 | 0.44% |
| 1997 | 265.22 | 2.17% |
| 1998 | 271.87 | 2.51% |
| 1999 | 274.64 | 1.02% |
| 2000 | 275.62 | 0.36% |
| 2001 | 275.38 | -0.09% |
| 2002 | 278.91 | 1.28% |
| 2003 | 279.94 | 0.37% |
| 2004 | 277.57 | -0.84% |
| Year | Labor productivity | Output per worker | Output | Worker hours | All Workers | Unit labor costs | Labor compensation |
| 1994 | 2.3 | 4.5 | 3 | 0.7 | -1.4 | 0 | 3 |
| 1995 | 3.3 | 2.4 | -0.8 | -4 | -3.2 | 2.7 | 1.9 |
| 1996 | -0.4 | 1.2 | 0.9 | 1.4 | -0.3 | 4.8 | 5.7 |
| 1997 | -1.2 | -1.2 | 1.4 | 2.7 | 2.7 | 7.6 | 9.1 |
| 1998 | 3.5 | 0.8 | -0.4 | -3.8 | -1.1 | 2.8 | 2.4 |
| 1999 | 7.6 | 6 | -2.9 | -9.7 | -8.4 | -1.8 | -4.6 |
| 2000 | -0.4 | -1.1 | -0.6 | -0.2 | 0.6 | 6 | 5.4 |
| 2001 | -1.7 | -1.4 | 0.9 | 2.6 | 2.3 | 6.6 | 7.6 |
| 2002 | 4 | 0.9 | -3 | -6.7 | -3.8 | -1.3 | -4.2 |
| 2003 | 2.2 | 1.5 | -0.4 | -2.6 | -1.9 | 2.3 | 1.9 |
| 2004 | -7.9 | -5.3 | -1.4 | 7.1 | 4.1 | 12.7 | 11.1 |
| 2005 | -10.1 | -8.8 | -2 | 9 | 7.5 | 19.1 | 16.7 |
| 2006 | -9.1 | -8.4 | 1 | 11.1 | 10.2 | 17.8 | 19 |
| 2007 | -6.4 | -6.7 | 0 | 6.9 | 7.1 | 12.1 | 12.1 |
The GATT Uruguary round will increase exports by leveling the playing field for American corporations in foreign countries. American companies will not move production abroad, rather they will complement existing production.
[The import/export numbers make this a lie]
trade 1994 2008.bmp
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