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RE: How the world becomes wealthier (was Re: Offshoring: San Jose Mercury News article)
Subject:RE: How the world becomes wealthier (was Re: Offshoring: San Jose Mercury News article) From:"David Locke" <dlocke -at- texas -dot- net> To:"TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com> Date:Wed, 12 Nov 2003 02:40:50 -0600
Excuse me, but Reganomics proved beyond a shadow of a doubt that freeing up
money did not increase investment in anything that lead to more jobs. It
didn't happen that way. What did happen was companies bought back their
stock or in some other financial gaming way played with the money
transparently.
If the savings are producing new jobs then where are they? They may happen
in the future, but that is doubtful. Interest rates being almost negative
you can borrow the money cheaper than you can lay people off. And, given
that technical writing is free, it is doubtful that any money is being saved
by laying off technical writers. What is happening is that off the books
inefficiencies are being introduced into the system that will kill business,
not help it. The reengineering craze was similar, the really big businesses
were not killed off by it, but a lot of mid-level businesses were killed off
by it.
The problem really isn't this layoff as much as the one that service
conversion will cause four years down the road.
My CEO, the one that just hosted two layoffs got a huge bonus. That's where
our money went. He's not going around creating jobs with his money.
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