April 20, 2012
The Virtue of Protectionism (and Class Warfare)
It's a vicious circle. Financialization. Profit maximization. Offshoring. Political dysfunction. To start with the offshoring part, the American economy will wither and die without good industrial jobs. The numbers don't add up otherwise and the numbers don't lie. But thanks to money, corporations prefer things the way they are, as do politicians. Making matters worse, academicians who study such things mostly haven't got a clue. It's refreshing, then, to get the full, unvarnished truth from an insider's insider. Dr. Ralph E. Gomory was the head of research for many years at IBM and is President Emeritus of the Alfred P. Sloan Foundation. Currently he's a research professor at NYU. To cut to the chase, Ralph believes that protectionism would be good for America. And he goes much further, to say that the banner of (non-violent) class warfare should be proudly unfurled. I agree! Total runtime forty nine minutes. Cantābit vacuus cōram latrōne viātor.