The public sector is immune to globalization.(HT: Henry Blodget)
We can’t outsource our teachers, highway department, police, or other public workers to China or India. They are fortunate, but the fact that they cannot even comprehend how this is straining the tax base, the people who provide their paycheck, is truly galling.
I watched 60 Minutes a few weeks back, as a teacher confronted the governor of New Jersey and his proposed budget cuts, saying “you are not compensating me for my education!” All I could think is, what an idiot. Doesn’t this teacher realize that thousands of engineers with advanced degrees would be told that they would no longer be compensated for any education, as they lost their jobs to those overseas who could do it for less? Perhaps she does, but frankly, doesn’t give a damn!”
Correcting misconceptions about markets, economics, asset prices, derivatives, equities, debt and finance
Sunday, March 13, 2011
Public Sector Employees Are Immune To Globalization
Posted By Milton Recht
Excerpt from a letter by Dave S reprinted in "What Public Sector Employees Don’t Realize or Appreciate" by Brian Sampson on UnshackleUpstate.com blog, March 08 2011:
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