Category: Economics, Business, & Work

Why American innovation will beat out China’s – Global Public Square – CNN.com Blogs

Sometime this year, the Chinese government will announce a new initiative to lure ten scientific superstars to research labs throughout China. The government hopes that if it offers a $23 million dollar award to Nobel Prize winners and other luminaries, they will relocate and raise the quality and prestige of Chinese research and development.

Source: Why American innovation will beat out China’s – Global Public Square – CNN.com Blogs

 

It sure would be nice if the US had a friendlier policy for letting graduate-educated people immigrate permanently to the US (especially those its institutions trained!).

Job-Killing Labor Costs and the Manufacturing Sector | Mises Institute

If the cost of labor increases, someone has to pay for it. Laborers may pay in the form of decreased work opportunities, investors may pay in the form of decreased returns on capital, or consumers may pay in the form of higher prices required by increased costs.

Source: Job-Killing Labor Costs and the Manufacturing Sector | Mises Institute

 

US manufacturing output is still enormous, it has simply been achieved with ever higher levels of capital (e.g. machines) as labor has been made more and more expensive (through minimum wages, benefits, etc. that US corporations are taxed or regulated into providing).