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Fixing America's Economy: Nine Ideas From Around The World

Sunday, June 12, 2011 - 9:33 AM
http://www.businessweek.com/magazine/content/11_25/b4233053223432.htm
To prod the conversation forward, Bloomberg Businessweek scanned the world and found innovative economic ideas in countries as diverse as Germany, Brazil, Singapore, and Thailand that are applicable to America's mess. The focus was on short-term solutions, but since there aren't a whole lot of miracle fixes to be had, we also considered some longer-term reforms that create a better environment for years of sustainable growth.

There's no guarantee that all of these ideas would work in an American context. But it's clear that some fresh, non-ideological thinking is needed. Says Dow Chemical (DOW) Chief Executive Officer Andrew N. Liveris, a Greek-Australian-American and author of the book Make It in America: The Case for Re-Inventing the Economy: "People in the U.S. confuse big government and small government as the only two models. What we need is smart government." By that he means government that puts business objectives ahead of politics. "Countries are competing like companies more and more," says Liveris, "In the U.S., we haven't caught up." Here are nine ideas from the rest of the world to get America back in the race.

3
MikeMike327 posts since
Feb 22, 2010
Rep Points: 875
1. Sunday, June 12, 2011 - 12:41 PM
Thanks.

Comments:

1. What works for other countries may not work in U.S..  Copying other countries' strategies without thoughtful analysis is a formula for disaster.

2. I agree absolutely about the big, and most importantly inefficient, Government for U.S.. 

3. Do not throw baby out along with the bathwater.  There are many good fundamental atrributes of the U.S. economic systems.  We just need some smart and aggressive people to rebuild the economy.  With the best democratic and educational systems in the world, the re-building is just a matter of time.   
4
51hh51hh1,461 posts since
Jan 16, 2010
Rep Points: 6,351
2. Sunday, June 12, 2011 - 1:04 PM
Mike, an interesting article - thanks for posting.   This is DA, not a political forum, and I do not wish to turn it into one, but I thought the article had many good ideas.  Some appealed to me more than others and some may not be entirely appropriate for the US economy.
One of my many worries about our country and our economy is that there appears to be little, if any, accountability for actions at almost every level.   Unfortunately, if you are not going to be forced to eat your own dog food, you don't worry about what's in it.  That's why I cheered Germany's contribution.  Homeownership is a privilege, but too many perceive it as a right or an entitlement.  IMO, capping LTV on mortgages, and forcing institutions selling mortgage-backed securities to bear all the risk of default in order to encourage judicious underwriting would have gone a long way to avoid much of the economic chaos we have seen over the last few years.  Unfortunately I believe there is more pain to come. 

I'm grateful for all of Ken's hard work - as well as that of other members of this community - in finding the best deals available so we can keep our heads above water for as long as possible. 
 

 
3
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,955
3. Sunday, June 12, 2011 - 3:42 PM
"This is DA, not a political forum, and I do not wish to turn it into one,"

Thanks for that pearlbrown, though to late for some posters making this a place for their blog 
2
RicochetRicochet131 posts since
Jan 19, 2010
Rep Points: 358
4. Sunday, June 12, 2011 - 5:19 PM
Thanks

Years ago, I might have thought that politics and economics were separate animals.  Even if that thought was true (I don't think it was), it isn't any longer.  Today's politicians (as so many in the past)  -- all sides -- are directly abstructing, changing, manipulating, harming, and/or thinking they are trying to fix economics.  The economic decisions being made today are clearly causing worldwide political tension.  I do not suggest that I have the answers -- who does? -- but my questions, today, are far deeper, concerning, and...  political.

Even something as simple as a savings/CD account has met with turmoil the last few years.  The politicians keep fixing things, the rules keep changing...  and the participants on this site grow more concerned.  Look at the IRA CD's charging fees, raising withdrawal penalties, etc...  to the point where some CDs could actually lose money.  That makes no sense, for a CD you carry to full term!

Deposit Accounts, today, are just one of the many political footballs.  Along with Social Security, Medicare, Pensions, Bonds (Bond holders), etc. 

Thinking, caring people have opinions.  Logic suggests not all opinions are correct.  Wisdom seeks to find the valid, objective views/opinions.

I'm still trying to sort it all out.  Some of my opinions have been changing the last few years.

And, I'm with pearlbrown
I'm grateful for all of Ken's hard work - as well as that of other members of this community - in finding the best deals available so we can keep our heads above water for as long as possible. 

Happy Saving... 
3
MikeMike327 posts since
Feb 22, 2010
Rep Points: 875
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