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14 December 2014


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Interesting point concerning finance capital and its movements It is notable that centers of finance capital like Boston, MA continue to do well while the countryside around them rots. The first things that left New England were traditional age of industrialization industries like textiles and shoe making. these losses were devastating to the communities. The Goodall-Sanford Mills employed 3,600 people and well. Shoe factories around the town, Sears Roebuck and American Girl employed another thousand. Specialty industries like jet engines and helicopters in Connecticut have held out longer but are leaving gradually as well for places like Texas. The process of de-industrialization in New England driven by an ideology of liberal anti business attitudes and social crusading continues. Since Sandy Hook, Colt, S&W and Ruger have all announced that they are leaving Connecticut. These were very traditional industries in the state. pl


c'ville reader

You misunderstand. My prejudice is AGAINST impractical academics. pl



So, I think you can add -

- Movement of finance capital away from traditional industry
- A gradual growth of a culture hostile to smoke stack type industry in some parts of the US.
- Rampant, uncontrolled immigration in places like Downey, California.

to my earlier list.

Will Reks


When you refer to "business-friendly" are you talking about wage policies or less regulation?

I don't think we can separate this from ideas about why the middle class is lost. It's harder for many two income families to get by these days than it was when the man was often the sole provider a few generations ago. We've replaced good paying manufacturing jobs with service jobs at much lower wages. What could be more business friendly?

I regret very much that we have no labor party in the US. No one looks out for the interests of workers in the corporatist parties we have. The elites are killing our standard of living.


"The bastards have got us coming and going. Free trade is not free." That is a quote from this article: http://www.prairiefirenewspaper.com/2013/09/made-in-america-seven-reasons-to-support-the-vat


Wil Reks

If you are referring to the actions of state econ dev comm, in my experience they are interested in de-regulation at their level for the promotion of business and seek to attract quality employers who will provide a good package. pl

Babak Makkinejad


I think in UK the city of Liverpool is an abject example of the same process...


I will only add a book recommendation to this discussion. It deals with the transformation of US economy and where it is going in future. The name of the book is "The second machine age":


P.S I hope I am not violating any rules by posting a link to amazon.



This is not an "either or" binary proposition as you wish to frame it.

Illegal immigration has wrecked a number of blue collar trades in the US, as Oaxacans willing to work for $4/hr undercut Americans, to say nothing of the social welfare they get. Stop with thesophistry.



A few years back a brother of mine was traveling back and forth to India and I told him he was probably training his replacement. He was.


ex-PFC Chuck,

Great site. Thank you.



You have some good points. Our universities are filled with degreed office workers. The capital markets were not the only ones attempting to raise the rate of return by lowering wages. The other sectors did so hand in hand with the open borders crowd (of all political persuasions).

William R. Cumming

Thanks CP for this insightful comment!

William R. Cumming

Many thanks for peeling off the cover of this destructive effort.

William R. Cumming

Babak! If Indians can or choose to emigrate what are their countries of choice if you know?


A Ted presentation that addresses this question, but uses global 'mobile workforce' inclusive of Indians for the answer:


if i am not wrong, Japan has its bottlenecks in workforce and addresses them by outsourcing manufacturing plants to other countries. A lot of Japanese car manufacturing happens in US too.

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