And outsourcing of services and manufacturing is an instrument of competitiveness;

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All said and done, Obama will have to certainly move away from rhetoric now and focus on pragmatism. Reality bites hard when it does. Take his tax policy for instance. An analysis by the Tax Policy Center estimates that without cuts in government spending, Obama’s overall tax plan would increase the national debt to around $3 trillion (including interest costs) by 2018! And outsourcing of services and manufacturing is an instrument of competitiveness; discouraging it would only make America Inc. more uncompetitive. Also, his rhetoric on promoting more green business in the US is noble; but it’s not an easy horse to ride; and can’t take priority over the economy as of now.

You can’t overstate the fact that Obama stands for quite a lot – his election is the fruition of Martin Luther King’s dreams of a promised land; and an ode to Abraham Lincoln’s legendary endeavours to end slavery in US back in the 19th century. But now it’s time for Obama to read Roosevelt far more than Lincoln. The promise of change got him this far, but the challenges ahead are very, very different

For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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