To reply to a Comment:
Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to.
This is probably a good idea. America can't do anything like this though because we have Republicans that convince the voters that America is number one and the only things that matter are tax cuts, patriotism/violence, and "freedom" to do whatever you want.
sporty1: This is probably a good idea. America can't do anything
Very good insight from Gordon Brown. He should push this in Europe than America. Poeple over here are moving backward as the tea party is becoming powerful. Many in the US know the future but ordinary Americans don't believe that US is no longer the power house of the world and it wil take time for them to realize the standing of America, by the time it will be a little too late. Asia is unstopable and it will continue to be.
human2008: Very good insight from Gordon Brown. He should push this
Who would listen, and why? He was a disaster for Britain and they gave him the boot. Makes as much sense to listen to him on economics as W on foreign policy.
LibertyRoy: Who would listen, and why? He was a disaster for
Creating jobs in America when they were sent overseas for cheap labor by American corporations with the blessings of Congress is not protectionism.
America can not be trusted to lead a new Marshall plan, when it is currently exploiting countries resources and peoples health (esp. overseas) for their own benefit....and remember the 1929 crash and the current one were caused by this great nation.
GCK below has an incredible response !
Aneesia: Creating jobs in America when they were sent overseas for
labor is not the only issue...it used to be where labor was 90% of overhead now it is much less....insurance both health and liability, rent/high cost of real estate, and utilities have grown a lot in the last 20 years.
oilfield: labor is not the only issue...it used to be where
I knew there was a catch to Gordon Brown's thinking. He states the need for a return to long-term thinking on the part of the US. Of course I agree with that... a return to the kind of long-term thinking that made my parent's generation "the Greatest Generation." However, I am not very optimistic that my people or my government will be able to effect that given the position we have brought ourselves to.
Bill_Bushing: I knew there was a catch to Gordon Brown's thinking.
That whole "Greatest Generation" thing I don't buy. They went to war for less than 3 years after literally being dragged into it and still had horrible segregation, internment camps and dropped 2 nuclear bombs on another country. It's also a generation that produced McCarthy and hushed FDR's new Bill of Rights plan. They had no long-term plans. They're the ones that started us on the downward spiral of the Military Industrial Complex. Great? Naw, they weren't so great.
The only reason America prospered during the time after WW2 was that manufacturing infrastructure across Europe was disabled. These days we are returning to a more late 19th Century rich/poor class structure.
TheOuroborus: That whole "Greatest Generation" thing I don't buy. They went
What we will witness in the the decade or so is the down and dirty battle between billionaires. All in a rush to become the world's first Trillionaire. Of course we may never come to see who in reality is that person given the complexity of interlocking holdings and control. American vs Chinese vs Indian vs Russian vs Brazilian billionaires. Imagine, World class Mega-Monopoly! And with the advances in life extension bio-technologies these guys will be around for a very long time barring cataclysmic aliens, meteors, sun bursts or super-volcanoes.
sparafucilli: What we will witness in the the decade or so
The people lecturing us about "protectionism" are the very same multinational interests who want unfettered access to the American consumer.
Nice try, Gordon, but a little transparent, a little self-serving.
Back when England was a serious economic competitor, Abraham Lincoln said:
"If we purchase a ton of steel rails from England for twenty dollars, then we have the rails and England the money. But if we buy a ton of steel rails from an American for twenty-five dollars, then America has the rails and the money both."
Made sense then, makes sense now. To wit:
If American simply reallocated $1 per day, spending $1 less on foreign-made goods, and $1 more on American-made goods, after a year, we’d have $110 billion, which could mean more than 2 million new jobs paying $50,000 per year.
Other factors are involved—costs, profits, U.S. vs. foreign ownership—but the principle stays true, so let’s keep this simple and make our point. Even $1 per day can make a big difference.
Reallocate $10 per person per day—from foreign to American-made goods—and in a year we’d have $1.1 trillion, or potentially more than 20 million new jobs paying $50,000 per year.
Why stop there?
Financial crisis solved. Unemployment solved. Our future: safe, secure, and back in our own hands.
Things are much simpler than we’re being told.
Maybe we’ve been listening to the wrong people.
Stop whining, Gordon. Start making things again.
GCK: The people lecturing us about "protectionism" are the very same
You have a frighteningly simplistic and view on job creation in the model you presented. I think buying American is a great idea, but let's pretend for a moment that more US goods are bought from Americans (you offer $1 trillion worth as an example). Only a small fraction of that could be used to employ new workers to produce those goods. For every dollar sold, you have to pay for the cost of raw materials, transportation, capital expenses, fixed costs, and a lot of other things that go into producing those products. Human resources are only a piece of the puzzle.
Would buying American create jobs for Americans? Of course, and I think it's a great idea. But, people need to understand that there will be a significant additional cost associated with that.
FortressOrange: You have a frighteningly simplistic and view on job creation
Besides, WHO in America has that $365 extra dollars per family member to spend on higher priced items? For a family of 4, you are demanding that the American family set aside almost $1,500 a year to buy overpriced stuff.
Ain't gonna happen.
For a $10 product, with a 10% current labor content, to be move back to the U.S. ($1/hr. moved back to $20/hr.), that $1 in labor content becomes $20, and the product now costs $29.
Ask ANY American whether he or she is willing to fund this silly idea of yours, by setting aside $1,500 a year to buy things at 3 times the price.
Zhuubaajie: Besides, WHO in America has that $365 extra dollars per
We pay either way. Either we pay more for American-made goods, or we pay more to support the unemployed we create when we purchase foreign-made goods. Worse, even worse, is the overall degradation of our own economy, our own lives.
"Made in China" is no bargain. Hidden in every price tag is a piece of our children's future.
GCK: We pay either way. Either we pay more for American-made
Did you actually read my post? My "silly" idea does not ask Americans to increase their spending, but to reallocate their spending--and think about whose economy they want to support.
Your "mathematical analysis" is nonsense. On average, only 10% of the U.S. - China price differential is accounted for by lower labor costs, even though China's slave labor conditions are abhorrent. The rest is criminal trade behavior--currency manipulation, government subsidies, intellectual property theft, counterfeiting--and the lack of environmental protection laws.
GCK: Zhuubaajie Did you actually read my post? My "silly" idea
Sorry Mr Brown, much as I admire you for a lot of what you did as Chancellor, you're wrong. Re-read Gibbon's 'Decline and Fall of the Roman Empire' and you can see where America's going. If any bloc is going to lead the world in a global restructuring, which I strongly doubt, it's going to be Europe. Despite our current difficulties, we've overcome our historical enmity, come to share common social goals that resonate with the people, have economic diversity and great resources, and have created institutions of co-operation which make us stronger collectively than any of us are individually. We just need to keep our eyes on that original European aim of peace and prosperity, work at it, and our future is as secure as any can be in a volatile world. War, with its single-industry economy, is not the way, which is why the USA is dying and we're in danger. Eyes on the prize Mr Brown.
Figural: Sorry Mr Brown, much as I admire you for a
'The growth of an Asian consumer revolution offers America a road to new greatness.'
The destruction of our middle class and manufacturing in the US means we are unlikely to take advantage of the consumer revolution in Asia. Do we even still make toasters here?
Most of our exports to China is food.
RanRan2: 'The growth of an Asian consumer revolution offers America a
Dear RanRan2:
I'm in the recycling business - and our greatest export to Asia (fluctuating with market demand) is more often garbage. Yep. Sorted garbage for re-manufacturing. Our last great natural resource - garbage.
grouseless54: Dear RanRan2: I'm in the recycling business - and our
Yes, and before the eventual explosion of middle class in traditionally poor Asian countries comes to pass, there needs to be a discussion of a world based worker's rights clause to ensure continued world demand for the raised production. Corporations that outsource labor to whichever area has the lowest paid workforce are dangerous to the world. It seems idiotic that all the work goes to people getting paid cents per hour, killing the demand from countries with minimum wage but no jobs, while neglecting to compensate their workers enough to spur demand in labor centers.
Of course, I'm just a naive progressive.
Joe_Olandese: Yes, and before the eventual explosion of middle class in
We as Americans were sold that World Trade is good. That it was not a "zero sum game". And probably it it is not. There will be more "middle class" consumers in the world. But the problem is the won't be in the US. The folks in China and India will be better off. But the leveling effect of world trade is that while those at the bottom rise, those at the top fall. The Western world worker needs to produce 5 to 10 times more than the the Eastern World worker. We used to be able to do that. But now they are investing in plant and equipment that makes them as efficient as the West. Innovation used to be in our favor, but that is failing us too.
Mr Brown here seems to think it is a banking and financial problem. But it is deeper than that.
Donald_Fannin: We as Americans were sold that World Trade is good.
I don't believe he said anything about a new world order or a one world government. The former prime minister said that we need to recognize the economic world we live in instead of shutting ourselves off. It's about globalization and working with other countries to get the best outcome for everyone.
skh15: I don't believe he said anything about a new world
You cannot proceed with any grand design without global warming dominating the center of the calculations. Unlimited consumerism on another continent is a recipe for disaster. Why don't you re think your article with the whole picture in mind?
demar: You cannot proceed with any grand design without global warming