"The verdict is in: The Thatcher-Reagan-Blair-Clinton model of capitalism is a failure".
"By cutting taxes, slashing wages and destroying unions, the U.S. was supposed to lead the world in high-tech industry. But a recent study by the Asian Development Bank found that the majority of the added value of iPhones assembled in China come from high-tech companies in Japan, Germany and South Korea, whose inputs dwarf those from American companies. For a generation we've been told that the European and Asian capitalist countries were doomed by statism and high wages. Instead, they dominate global high-tech industrial production, while the U.S. continues to be deindustrialized.".......read it here
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