the validity of historical comparisons in economics

[happythoughts 0]

If something was done in 1930, does it have any resonance today?

We have a market economy today. Consumer spending
is what drives our economy, not manufacturing. If consumers don't have jobs, they don't spend, the economy stagnates. The current solution is to substitute govt spending as a stimulus.

The old economic theory is that spending would drive manufacturing to create more goods to sell, and create more jobs. It may, but the manufacturing jobs, from socks on up, are overseas.

High paying industries are not being kept in the US.
The US market economy will be reduced because the US consumer
has less disposable income.

This is not the economic structure of 1910.

[hwt 0]

Manufacturing is what provided us with so many high paying blue collar jobs and it also supported so many other businesses .
Manufacturing will never come back to this country with the competition of a global economy and the high cost of running a business in this country due to taxes and other fees and regulations.

[Lucky... 0]

Quote

If something was done in 1930, does it have any resonance today?

We have a market economy today. Consumer spending
is what drives our economy, not manufacturing. If consumers don't have jobs, they don't spend, the economy stagnates. The current solution is to substitute govt spending as a stimulus.

The old economic theory is that spending would drive manufacturing to create more goods to sell, and create more jobs. It may, but the manufacturing jobs, from socks on up, are overseas.

High paying industries are not being kept in the US.
The US market economy will be reduced because the US consumer
has less disposable income.

This is not the economic structure of 1910.

I agree, I think the dichotomy s/b the FDR era. Pre-FDR there were virtually no gov controls, no social welfare to speak of, and little military expenditures as compared to today. Post FDR is astinishingly different, so I say we can compare the economy of the late 40's-50's and on as today's.

[Lucky... 0]

Quote

Manufacturing is what provided us with so many high paying blue collar jobs and it also supported so many other businesses .
Manufacturing will never come back to this country with the competition of a global economy and the high cost of running a business in this country due to taxes and other fees and regulations.

High taxes? Taxes are almost as low as they've ever been post-WWI, payroll taxes are nothing compared to other nations. As for vacation, WE nations have to give employees between 4 and 9 weeks per year, so your claim of high cost/regulation is silly.

And your claim that we won't be a manufacturing nation again is probably wrong. As soon as the debts becomes unbearable, probably in 10 years, our dollar will fall and we will have to manufacture as teh exchange rate will be too steep to afford Chinese fingercuffs.

[hwt 0]

High taxes? Taxes are almost as low as they've ever been post-WWI, payroll taxes are nothing compared to other nations. As for vacation, WE nations have to give employees between 4 and 9 weeks per year, so your claim of high cost/regulation is silly.

And your claim that we won't be a manufacturing nation again is probably wrong. As soon as the debts becomes unbearable, probably in 10 years, our dollar will fall and we will have to manufacture as teh exchange rate will be too steep to afford Chinese fingercuffs.

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Obviously you have never owned your own business . I have owned 2 and you have no clue about taxes.
All you want to do is tax, tax and tax without the consideration of what those taxes mean to a business. So do us all a favor , and go open your own business and then you can come back and tell us all how low they are.

[jgoose71 0]

Quote

Quote

Manufacturing is what provided us with so many high paying blue collar jobs and it also supported so many other businesses .
Manufacturing will never come back to this country with the competition of a global economy and the high cost of running a business in this country due to taxes and other fees and regulations.

High taxes? Taxes are almost as low as they've ever been post-WWI, payroll taxes are nothing compared to other nations. As for vacation, WE nations have to give employees between 4 and 9 weeks per year, so your claim of high cost/regulation is silly.

And your claim that we won't be a manufacturing nation again is probably wrong. As soon as the debts becomes unbearable, probably in 10 years, our dollar will fall and we will have to manufacture as teh exchange rate will be too steep to afford Chinese fingercuffs.

That may be hard to do as the Chinese keep devaluing their currency to undercut us.

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