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Do you agree with Mayor Bloomberg’s comment: “The only way you solve this problem (job crisis) is that everybody pays a little more and everybody gets a little less”

(Last Updated On: September 18, 2011)

Do you agree with Mayor Bloomberg’s comment: “The only way you solve this problem (job crisis) is that everybody pays a little more and everybody gets a little less”

and that the frustrations could spark a riot?

money.cnn.com

New York City Mayor Michael Bloomberg is worried that riots that happened overseas could also happen in U.S., which is also suffering from high unemployment among young people.

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Depends on the context. Back in the 1970’s we started wanting more and wanted to spend less so we were willing to purchase overseas goods thus ending American manufacturing. To end this we need American manufacturing which will increase the cost of goods, thus decreasing the number of individual items we purchase while, hopefully (if we are not to late), increase the number of American jobs.

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don’t you think that it was companies who were looking for greater profits, thus decreasing costs in manufacturing/salaries, as Walmart was the first to do?
I recall clearly that ‘futurists’ commented that the US will focus on ‘service industries’ and export manufacturing.
How much servicing can hold the economy? It would be the first thing that can be sent off-shore which is exactly what happened when firms looked at India for cheaper costs.
As for manufacturing, the US and other countries trained, developed and set up shops their products outside of US and those countries are doing very well.

 

 

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