Thursday, February 12, 2009

Attack this financial crisis with green cards not just greenbacks, and with start-ups not just bailouts - Friedman

When the best brains in the world are on sale, you don’t shut them out. You open your doors wider. - Thomas L. Friedman

NVDL: Intwisting theory. Still seems based on this idea that growth is implicit. I think growth and sustainability are mutually exclusive.
clipped from
“All you need to do is grant visas to two million Indians, Chinese and Koreans,” said Shekhar Gupta, editor of The Indian Express newspaper. “We will buy up all the subprime homes. We will work 18 hours a day to pay for them. We will immediately improve your savings rate — no Indian bank today has more than 2 percent nonperforming loans because not paying your mortgage is considered shameful here. And we will start new companies to create our own jobs and jobs for more Americans.”

We live in a technological age where every study shows that the more knowledge you have as a worker and the more knowledge workers you have as an economy, the faster your incomes will rise. Therefore, the centerpiece of our stimulus, the core driving principle, should be to stimulate everything that makes us smarter and attracts more smart people to our shores. That is the best way to create good jobs.

 blog it

No comments: