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.
