To stop outsourcing of US jobs, does American need public controls over capital investment?
As everyone probably knows already, I'm a democratic socialist, and I'm biased in the direction of favoring democratic control over -- well, over "capitalism," the investment of money in the pursuit of profit. But setting aside the question of capitalism vs. socialism, wouldn't SOME democratic controls / government controls over US capital investment make a good deal of sense for Americans on purely "nationalist" grounds? Today, we have global "free trade" treaties, no controls at all over where rich Americans can invest their money, and hundreds of US-based private companies have taken advantage of this to invest heavily in the promotion of industrial manufacturing -- in China. Or to be fair, not all the Americans who invest large sums of money overseas do their investing in China. Some invest in India, some in Vietnam or Indonesia, some in Bangladesh, some in the poorer countries of Latin America - some in Europe. But what they're mostly not investing in is industrial development right here in the United States, where the investment would generate new American jobs. Whether you're a socialist or a capitalist, doesn't the US government need to impose some controls over where American capital is invested? At least if we want the capitalist investment process to produce jobs right here in North America?
Politics - 8 Answers
Random Answers, Critics, Comments, Opinions :
1 :
"Free commerce and navigation are not to be given in exchange for restrictions and vexations, nor are they likely to produce a relaxation of them" --Thomas Jefferson: Report on Foreign Commerce, (1793)
2 :
We should place heavy restrictions on all companies that employs and manufactures in other countries and give heavy tax breaks on those that keep their business here. We place heavy import taxes on all American companies coming in.
3 :
I have to disagree. Imposing more government control isn't going to help the economy.
4 :
I'm against government controls per se', but take the banking industry, for example. A bank that kept the majority of its operations in-country could use that in its advertising. I don't think many people are aware just who has access to their personal data in countries such as India and Costa Rica. Bank X could create an advertisement, in which they just happen to mention how bank Y has overseas IT professionals with ready access to their data. They can also bring up the vulnerability of these other locations. If you think IT professionals lack dedication in * this * country, you haven't seen the Indians jump ship every three months for a couple more bucks dangled in front of them. Outsourced IT departments have hardly any stability. I don't know how you make the public aware how all of this translates into an accident waiting to happen. That's the key. It's kinda the "Buy American" thing all over again, but this time, it isn't ringing hollow in comparing a local crappy car to a better-made (at the time) import. People are scared out of their minds about the security of their financial data. Why some bank isn't taking advantage of that is beyond me.
5 :
No. Americans need to reign In it's Standard of Living. Because as LONG as We Insist on Buying "Cheap" & "on Demand"- jobs will continue to flow Overseas where Things can be Made That way, at the Prices people want Them.
6 :
America needs to stand up to unions. Unions have priced themselves out of the market. Most union people are factory workers with only a high school education, but want to be paid $40-50/hr., golden healthcare benefits and retirement plans. How's a company supposed to put money in R&D, pay it's investors and make a profit behind all that? They found a solution, go abroad and have the products made in China, and other Asian countries on the cheap. If America wants their jobs back, they have to get rid of union bosses, who pay themselves exorbidant salaries, and are robbing them blind with dues. Union bosses use all that union money as a liberal Democratic slush fund to pay lobbyists who pay off politicians. It's one of the main reasons this country's economy is circling the drain.
7 :
I believe you are right. Even though our economy is improving the jobs are still not there, Corporate CEO's are responsible to the stockholders to make as big a profit as possible and if it means shipping the jobs overseas they will do it. The only incentive to keep the jobs here would be some kind of government controls.
8 :
Capital investment is a two-way street.Capital also flows into the US from foreign corporations creating jobs for Americans (e.g. both Japanese and European car companies have built factories in the US to make their cars). Controlling the outflow of capital could trigger retaliation by other countries. Capitalism requires the free flow of capital between countries. A capitalist wants no barriers. As a socialist, your position is consistent. However, there is no guarantee that capital controls will produce more jobs here in the US. The job situation here is already being negatively impacted by the socialist policies of over regulation and high taxation.
