Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
... and it may be that low after 30 years of Raygun-nomics, the split between manufacturing and other employment is 60:40, and 85% of wind turbines bought with the stimulus are imported, because after the latest tax subsidy there is little excess US manufacturing capacity ...

... then assuming that the field is no more labor intensive per dollar than the US economy as a whole (I think that's a safe assumption), and assuming that the wind turbines will deliver power with greater value than their installed cost, then the job creation overseas (China, y'all, wherever) is:

85%x60% = 51%

15%x60% + 40% + (>50%) = >99%

So not allowing the stimulus money to be spent on projects where the wind turbines are imported is killing off 2 American jobs for each one job overseas that is avoided.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Tue Nov 10th, 2009 at 12:54:22 PM EST

Others have rated this comment as follows:


Top Diaries

Occasional Series