The Obamas may have intended to make a film about workplace culture clashes, but American Factory is at its core damning snapshot of American labor entitlement in an age of increasing globalization.
The Trump administration needs to give the economy a dose of the right kind of nothing, relax the trade war antics and stop bashing trade partners, lay off the Fed, and by doing so will give real GDP growth a positive nudge.
Look back 150 years (from the end of the Civil War), ignore whatever party or president was dominant, and try to discern a relationship between the size, scope and power of the U.S. federal government and America’s economic growth rate.
The data alone tell the story no one wants to hear. Continued economic growth does not so much allow as require the inclusion – indeed the expansion – of the number of undocumented immigrants on American employment rolls.
If all mixed societies are inherently unstable then why are they historically so common and why do many keep going for hundreds of years in peace and rising prosperity?
State-run or state-privileged companies have for many decades dominated European markets. But the moment the opportunity arose for others to enter the market, those very companies faltered, while others are currently prevailing. The benefits are immense.
Edward Stringham speaks to the subject of economic growth on the popular BBC show "Talking Business"
I could have eaten it without violating anyone’s rights, so far as I can tell. But doing so would bump into an idea that forms the basis of social order, the very distinction between what is mine and what is thine. And keep in mind that this norm thrives most (or only) in an environment in which we are not desperate. In famine and war, such norms become more flexible. Sitting at the airport bar, I had the luxury to be scrupulous … and remain hungry, awaiting my chance to beg the flight attendant to give me an extra bag of salted almonds.
In so many areas, Obama seemed like an intelligent and thoughtful person, certainly someone who wanted to achieve some good. But even from his earliest extended interviews – however erudite and insightful – it was clear that he had a gigantic blind spot about fundamental economic topics. Most foundationally, the topic of wealth creation was never on this mind. He had great confidence in the capacity of great public administrators to manage economic life from the center but no discernable awareness of the limits of state power.
The “sweet spot” that facilitates spillover effects occurs with foreign firms with local market focus and highly tangible assets. Although the results are not uniform, this new research shows that far from being detrimental, foreign companies keep local ones on their toes, as locals search for ever better ways to serve customers and piggyback on newly observed strategies.