Fareed Zakaria: is there anyone more inane and wishy-washy than he? Zombie Zakaria’s “Restoring the American Dream” presentation is in the tradition you’ve come to expect from this CNN pundit.
Thus, Fareed vows to “bring you solutions” to “the hollowing out of the middle class” by growing the state’s role in R & D, for, as he concludes, “Almost all of the science and technology research that we take for granted now came out of the Defense Department spending post World War II.”
But surely, and logically, we cannot assert that because the DOD (the Department of Defense) gave rise to certain technologies, without it these inventions would not exist, as ZZ claims? It might be the case that sans state intervention, there would be even more innovation than with it.
This guy’s “ideas” are festooned with similar falsehoods.
Another of ZZ’s lessons comes courtesy of the super-productive German workforce.
“Despite some of the highest wages in the world, strong unions, lots of regulation, Germany has maintained a very powerful manufacturing base, employing millions,” ZZ opined. “It has held in good stead during this economic crisis. Germany’s unemployment rate has actually fallen for the past 15 months straight, an unbelievable record in this economic climate.”
As ZZ narrated the above passage, images of industrious German factory workers flashed on the screen, and were contrasted with the long lines of the unemployed in America. Guess what the American assembly and unemployment lines look like? You are right: By comparison, the German workforce so famous for its industry looked relatively homogeneous.
Still, ZZ hopes to apply efficiencies learned from the German cohort to America’s increasingly third-world, imported, underclass of workers. (“The United States,” we are told, “now ranks 52nd in the world in quality of science and math education.” It used to have “very high levels of performance in math and science.” What happened other than suffocating unionization in education, third-world immigration, and affirmative action?)
As Fareed and his well-to-do, high-achieving (indubitably high IQ) guests conclude, and I paraphrase, opportunities are indeed boundless if somebody has the smarts and the motivation; everybody can be the designer of an iPod or a programmer at Google; this essentially, is not a rarified group. Any one can get to be at “the top end of America.”
ZZ’s smart panel, which can never be called an interest group plumping for government/taxpayer subsidies (no never!), included Eric Schmidt, CEO of Google; Muhtar Kent, chairman and CEO of Coca-Cola; Lou Gerstner, who has run R.J. Reynolds, American Express and IBM; and Klaus Kleinfeld, CEO of Alcoa, the aluminum giant.
All were agreed that laborers are interchangeable in as much as potential is concerned, and if given the right conditions by government.
I have advocated in my writings for “a natural shift from a credit-fueled, consumption-based economy, to one founded on savings, investment and production.”
ZZ favors only a shift from consumption to investment; massive federal-government investment.