Saturday, December 18, 2010

Juan Cole, The Asian Century? | TomDispatch


http://www.tomdispatch.com/post/175319/tomgram%3A_juan_cole%2C_the_asian_century/#more


"The most significant of the Indian purchases trumpeted by the president last weekend were military in character.  Obama proclaimed that the $10 billion in deals he was inking would create 54,000 new American jobs.  Right now, it's hard to argue with job creation or multi-billion-dollar sales of U.S.-made goods abroad.  As former secretary of labor Robert Reich has pointed out, however, jobs in the defense industry are expensive to create, while offering a form of artificial corporate welfare that distorts the American economy and diverts resources from far more crucial priorities."

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