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« M3 Collapse | Main | Betrayal of the Investor Class »

Sunday, January 04, 2004


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Gary Tripp

Kudos and plaudits! These little paragraphs summarize a very large and, in my book, prescient view of the near future; however, you've neglected to mention the impact of off-shoring where a programmer/engineer/accountant/designer.. can work virtually over the internet as effectively as if he were working from the office next door. And he can do so at a tiny fraction of the salary. I feel that this labour arbitrage will conspire to seal our fate as wages equilibrate around the world. I believe that the unique prosperity that we have enjoyed in North America has been a direct result of our privileged hold on knowledge. This advantage is being rapidly being eroded at internet speed.

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