Wednesday, April 7, 2010

Richard Judd: Saving capitalism

The following column was written by Richard Judd, National City Distinguished Professor Emeritus at the University of Illinois Springfield. It was published in the State Journal-Register on April 7, 2010.

"For decades the U.S. was the epicenter of advanced technology production. No longer. In 2008 the U.S. exported $275 billion of such goods but imported more than $329 billion. Of those imports, $91 billion came from China. The U.S. depends on advanced technology, yet we are outsourcing production.

The state of global trade in 2010 is as precarious as global finance was before its 2008 collapse, largely because of a free-market approach to global trade and deregulation of the money industry."

Download a PDF of the full column: