Where can we find drivers of jobs in an environment where overcapacity is a problem in many sectors? Recovery or not, weak consumer spending will last for some time. A decline in consumption would lead to further job loss.
Any country should foster innovation and entrepreneurship since they are engines of creating wealth and jobs. Innovation in certain areas such as energy harnessing technologies and biotechnology has promising future.
A country shouldn’t offshore its production as the U.S. has shown the painful ramifications of it.
We live in a global economy. Global wage arbitrage is happening and competence in technology is becoming more common. Given this trend, we should focus on what is possible.
In the meantime, if we look at what Japan has undergone for the last two decades and the U.S. is currently facing, the core problems such as bubbles and debts should be resolved since they don’t create wealth, but waste or destroy it.
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