The Washington Times-Herald

Our Perspective

December 6, 2011

Free market has failed the U.S.

Anderson — While the United States and Europe sweat the small stuff and place all of their intellectual might and resources to fight deficit spending and slam the populace with austerity measures designed to make everything worse, China is forging ahead with a plan for growth that makes the West look like a bunch of money-crazed dimwits who have lost their bearings.

The U.S. likes to think of itself as the greatest country on earth, but it has spent the last 30 years, those dominated by conservative ideals, placing domestic emphasis on a limitless free-market economy and foreign policy strategies on starting and maintaining regional wars and threatening to unleash the military on anyone who makes Americans mad but is also much weaker.

What happens when the U.S. ceases to matter on the world stage? It won’t happen anytime soon, but it will happen. The U.S. still has the world’s leading economy, but China is set to take over that position in 2025, according to Andy Stern, former head of the Service Employees International Union, in a Wall Street Journal op-ed piece.

Stern says the U.S. is dithering while China has recently launched its 12th five-year plan, which calls for 7 percent economic growth. An article in a recent Newsweek, illustrates the strides China has taken in supercomputers compared to the U.S. This tells you all you need to know: The U.S. Blue Gene/L computer can do 0.5 quadrillion operations a second compared to China’s Tianhe-1A, which can do 2.5 quadrillion operations per second.

Money is used wisely in China, for education, technology, infrastructure, housing, the military and even a space program. It’s used for planning and that’s not done in the U.S.

Planning brings to mind, shudder, communism. But the lack of planning, such as creating a workable industrial policy, is leaving the U.S. behind.

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