The major resources of an entrepreneurial system are the entrepreneurs. It's fun to go back over the history of Silicon Valley and see how wealth creation and the spawning of new businesses from old ones followed the movement of people, not factories. The most important resources of an industry are its people.
Where people go wrong is assuming that the only workers that are important are those who do the physical work. It's easy to see someone welding a beam being productive. Not so easy to think about the metallurgists, design engineers, architects, financiers, and other "paper pushers" that made the beam (and the welding machine) possible.
Leftist economic thinking has never gotten past the 1930s. Its primary function then, and now, is to justify the accumulation of power to the State. Judging from history, once that's accomplished, there's very little concern about the welfare of "the people" after that.
And it's not like labor or management specialization started only recently.
Current Events » in reply to "bloated carcasses from the dead giants"
Gross oversimplification
The whole thread (15 posts)
- B of A gets an easy $20 billion. US automakers have to fight for scraps. The reason -
- B of A gets an easy $20 billion. NASA gets $17 billion. (n/t)
- Have you read "The Wrecking Crew"?
- None deserve a bailout. Capitalism Died on Bush's watch.
- Not to belabor the obvious...
