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October 22, 2008

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Kimball Corson

Two important points lost in the economic discussion currently are (1) that among the major macro economic adjustments the economy is forcing upon us is lower wages and salaries to make us more competitive internationally, and (2) that the bailout and some other programs do more to temporarily impede this macro adjustment than aid it, thereby necessitating further adjustments and more delay in reaching the new macro equilibrium. In truth, increased and effective educational reform and greater participation, in lieu of many of these finance programs, would be more effective in the long run in putting us on our feet and in better stead, economically.

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