Given that America is facing a financial crisis, how will it be solved?
Thomas Friedman gives us the equation that if the rest of the world is paid $2 per hour and America was paid $10 an hour, there will be equalization.
And further, if there are 2 billion people paid $2 an hour and 300 million Americans paid $10 an hour, the average world compensation will be closer to $2 an hour.
It is not literally true when America is more efficient, and that efficiency is kept in America.
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So Obama rightfully says we have to be more competitive; smarter, better educated, industrious, and create more sophisticated systems for delivery of everything from power to manufacturing and services.
He is right, but not right enough.
Government represents 35 percent of what America does. And government is 17 years behind the rest of America in all those things. We cannot succeed in maintaining the efficiency spread from the rest of the world while dragging the dead weight of government behind us.