Vin,
All I was trying to say is that the US economic system is very productive. We are number ~3 in GDP per capita.
This indicates that our system is pretty efficient.
And no china is not number 1 in GDP per capita; Luxembourg is, then Norway, then the US.
China is 122 out of 231.
By the way Australia is 14.
Link
The gdp is the total value of the goods / services created, has nothing to do with debt. I agree that debt is a problem but that has more to do with our goverment and less to do with jobs and where products come from.
Why I brought it up is that even if you say all the jobs are being out sourced and the economy is going to ^&%$ then how come we are still near the very top in GDP per capita?
Sounds like to me that jobs are being lost but a lot of new ones must be created and the overall efficiency must be pretty high.
Also sometimes I hear about all the job losses and the bad economy. Unemployment is now about 5 to 6% which is pretty low in comparison to the past.
Link
This is almost what an economist would call "natural uneployment" which means that it never really truelly goes to zero, but approaches some nominal low level.
Also it could be a lot worse:
Link
I fully understand that if your job is the one lost this really stinks. But in most cases a new job, which may be totally different, is created. The problem is that this is painful for the people involved.
The alternative would be communism. In east germany, they still made two cycle cars even in the late 1980s! Great for the guys/ girls who know how to make two cycle car engines since they could keep what should have been there long ago defunct jobs. But this would mean the would loose their jobs, and probably need to learn a new skill. However at 25 hp, a cloud of black smoke coming from the exahust and the hassel of adding oil....... the rest of the world had long ago moved on to a far more effiecent approachs.
So is it better for a few to keep thier jobs making two cycle engines for cars or for the general public to have a modern engine.
Fred