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View Diary: The secret of the so-called "skills gap" (191 comments)

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  •  Competition with China (18+ / 0-)

    in my view, is merely a symptom.

    The 'financialization' of just about every manufacturing business out there is more of a problem. CEO's looking to prop up share prices, not by actually innovating and/or developing better products for market, but by cutting costs and churning out poorly made products that don't last.

    Share price and executive pay come first.

    Businesses have been taken over by financial whiz kids like Mitt Romney, instead of being run by owners who actually have their finger on the pulse of their community and customer base.

    So you by now you have a generation or two of blue collar workers who are so under-paid (compared to their parents or grandparents) that they HAVE to shop at the Walmarts of the world because they can't afford to buy anywhere else because the well paid manufacturing jobs have all been outsourced by companies like...Walmart. And the mom and pop local businesses that used to anchor communities large and small have been driven under by competition from companies like....Walmart. So then the few jobs that are left available are in the low paying service sector, dominated by retailers like...Walmart.

    "The mind of a bigot is like the pupil of the eye; the more light you pour upon it, the more it will contract." Oliver Wendell Holmes, Sr.

    by SNFinVA on Mon Nov 26, 2012 at 08:33:04 AM PST

    [ Parent ]

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