I am surprised that someone who runs one of the most successful corporations in the country holds views as economically ignorant as this:
Intel Corp. co-founder and chairman Andrew S. Grove said that the software and technology service businesses are under siege by countries taking advantage of cheap labor costs and strong incentives for new financial investment.
He doesn't advocate those policies exactly, but he begs for government to do something. Lord help us if he gets his wish.
Progress happens. Industries rise and fall. We're in a frustrating period of high unemployment and slack capacity. But that's a problem to be solved by time and by monetary policy. Anything else that is done in the name of "saving jobs" will be counterproductive.
Oh--and Grove thinks that expensing stock options would kill capitalism. His views are mine with a minus sign on that one, too.
It's mysterious how his views match up with what will make his company more money.....
Posted by Jason McCullough on October 10, 2003 10:26 PM | Permalink to CommentMaybe I don't understand what you're saying. But (not knowing that much about Intel's business) his viewpoint doesn't seem stupid to me. It sounds like he wants government protection for his business, which is natural. Who in their right mind wouldn't want the government helping their business by strangling the competition?
Of course, it would be bad for the economy as a whole, and stupid policy.
Posted by rps on October 11, 2003 07:15 AM | Permalink to CommentCraig Barrett (current Intel CEO) has a plan. He thinks the US should staple a green card to every engineering degree awarded to a foreign student.
Posted by Bob on October 12, 2003 06:55 PM | Permalink to CommentIs it not what his own company is doing? Intel has nearly around 1000 people more or less working for them from Bangalore. They have a huge s/w development complex in India..
I am surprised..
Posted by sathish on October 17, 2003 06:34 PM | Permalink to Comment
“I am surprised that someone who runs one of the most successful corporations in the country holds views as economically ignorant as....”
I am not even slightly surprised to observe such economic stupidity. Heck, this might even be the norm! Corporate heads, for instance, have long funded their enemies and ignored their friends. Ever heard of the infamous Ford Foundation? It is the large corporations who are afraid to oppose the “diversity” crowd. They are the first ones to defend affirmative action policies which hurt their bottom line. Didn’t Lenin sarcastically remark that the capitalists will sell the rope used to lynch them?
Posted by David Thomson on October 10, 2003 08:10 PM | Permalink to Comment