"N2EY" wrote in message
...
There *is* a need for regulation of industry - we just have to be very
careful
as to how that regulation is done. For example, I don't think US companies
should have to compete head-to-head with foreign companies whose
managements
don't have to worry about environmental rules, safety rules, child labor
laws,
etc.

And of course we need basic regulations such as preventing one company from
selling temporarily at a loss to drive another company out of business and
so on. However what I meant was that we do not know enough to manipulate
the economy to create prosperity. I.e. The most productive approach is going
to be the free market economy that has mechanisms in place to prevent
unethical business practices (as described in my first sentence) and to
prevent the drifting towards monopolies so that there are competing
companies.

The items in the last sentence of your paragraph will change as these
foreign countries become more prosperous. The US and European countries did
not enact such laws themselves until we were our economies were strong
enough to allow us to do so. This is part of what I was talking about when
I said problem of foreign competition will eventally be solved when the
foreign companies reach our level of prosperity. Of course in the meantime
it does make it difficult for us. But who ever promised life would be easy?

[snip] the most workable option. That is to work
toward a world economy that enjoys a comparable standard to ours.
Once
that
occurs, industry will find it more economical to produce more locally
to
trim shipping costs. Once it becomes equally costly to make a car in
Japan
as in the US for example, then the lower shipping cost means it's
better
to serve the US market with cars made in the US.

In the case of cars, this has already happened in some cases. Many
Japanese
companies (Honda, Subaru, Toyota, to name just a few) make cars in the
USA because it's cheaper!

VW started that trend way back in the '70s by buying the Westmoreland,
PA
facility from Chrysler, and building Rabbits, Golfs and Jettas here
instead of
Germany. VW later sold that plant to Sony, who uses it to make CRTs
(because
it's cheaper to make them here!)

The main drawback is the fact
that it will take a very long time before the world standard of living
matches ours.

So what do we do until then?

73 de Jim, N2EY

As people have always done:
1) Some will whine and barely get by.
2) Some will simply make the best of what they have and do a bit better
3) Others will forge ahead and strive for their own personal best
development and productivity and will be reasonably comfortable.
4) Yet others will create an opportunity and become the next Bill Gates.

I meant as a society.

Well it's not going to work to try to manipulate the economy and market
place. So as a society, we have patience and help these other countries to
become as prosperous as we are. And we deal individually with the hardships
as we have always done in the ups and downs of life.

Dee D. Flint, N8UZE