by Paul Craig Roberts

CounterPunch

03/16/05

A country cannot be a superpower without a high tech economy, and America's high tech economy is eroding as I write. The erosion began when US corporations outsourced manufacturing. Today many US companies are little more than a brand name selling goods made in Asia. Corporate outsourcers and their apologists presented the loss of manufacturing capability as a positive development. Manufacturing, they said, was the 'old economy,' whose loss to Asia ensured Americans lower consumer prices and greater shareholder returns. The American future was in the 'new economy' of high tech knowledge jobs...

http://www.counterpunch.org/roberts03162005.html


Informant: Thomas L. Knapp