Thursday, July 22, 2010

Japanese outsourcing themselves

This article in the NYT was the final straw that led me to write my previous blog entry. With market forces leading the way, which used to be stopped by laws, the Japanese are now outsourcing themselves to cheaper Asian locations outside Japan. This is very good for business but terrible for Japan.

Capitalism is blind or may be only served the interests of those who controls its resources and owns its returns. Only the naive and inane believe in the Invisible Hand. The world today hardly fits the assumption of Classical Economics.

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