GH and Sacamuelas,
Everything you presented is solid economic fact. I can't dispute that. Even the report on the economy as presented by Mankiw is proven economic fact, Solid pointed that out very clearly.
The economy, according to LEI's, IS improving. We are growing. This is all great news. Yes, I am aware of the difference between micro- and macro-economics. The jobs problem is a Macro issue.
My concern lies in that economists are having a hard time explaining why, after we have been in recovery status for several months, is there no increase in hiring. Many point to productivity, uncertainty, etc... All relevant. I for one am optimistic that the projected job growth of 3% for this year will be realised. It is a big number, but if we rely on past history an economic theory, our current economic growth should help us realise that 3% number.
I'm just a protectionist when it comes to jobs. I do realise the bigger picture in a macro frame of thought. Basically what Solid laid-out with regards to out-sourcing.
There is NO stopping our conversion to a service economy, absolutely none. I don't think legislation will be able to cushion the blow as we make that conversion either. Unfortunately, this is an issue that only time will resolve.
I just have a mistrust towards big business. Look at the Yankees, trying to get A-Rod... They need to be in the 100% tax-bracket.
I can only hope that businesses will worry about one of the points you mentioned GH, Image. Business should be free to make their widgets without governmental intervention or unfair taxation when they provide a service to the economy and create jobs. However, a balance between rights of the business and rights of the worker needs to be in place. Before the government stepped in with the creation of OSHA and passed legislation, worker's had no rights. Sure, they could quit and go elsewhere, but when unsafe working conditions and low-pay was the norm everywhere is that really an option?
We've struck a good balance between socialism and capitalism in this country. Businesses in this country are very prosperous and profitable, and we have safe workplaces and good wages. I'm only hoping, thinking with a Macro view, that wages and employment rolls increase as much as our overall economy has been. Then, as we transition to a service economy, I think we all benefit.
All I ask is that someone go to these countries that now handle customer phone calls and teach them how to speak English. It should not take me 45 minutes to order an Elvis plate from the Franklin Mint.