I'll put a pin in your bubble. The basic fallacy in his argument is that other countries - China/India/Mexico will not develop the the items he mentions. There was a book by an international management consultant years ago that sounds something like the below - it was panned because it came off as racist.
You’ll want to be in the U.S. because English has become the global language.
If it is global then you don't have to come to the US.
You’ll want to come because American universities lead the world in research and draw many of the best minds from all corners of the earth.
US universities are being exported to the Arab world. Foreigners are being educated in the USA now who will lead in their Universities. Research funding is and will be under pressure in the USA but increase in China/India - China now has the fastest super computer.
You’ll want to be there because American institutions are relatively free from corruption.
True for now. What about when the distribution of wealth become even more inequitable; and foreigners are the big spenders. As countries become more affluent and income becomes more evenly distributed the pressures for corruption declines.
Intellectual property is protected.
Other countries will do the same when it is their intellectual property they need to protect.
Huge venture capital funds already exist.
The money is now in China/India and US funds can move very easily.
Moreover, the United States is a universal nation. There are already people there with connections all over the world. A nation of immigrants is more permeable than say, Chinese society.
True about the Chinese society. But, the Chinese and Indians have strong ties with their expats around the world that the USA does not have.
You also observe that America hosts the right kind of networks — ones that are flexible and intense. Study after study suggests that America is one of those societies with high social trust. Americans build large, efficient organizations that are not bound by the circles of kinship and clan. Study after study finds that Americans are not hierarchical. American children are raised to challenge their parents. American underlings are relatively free to challenge their bosses. In this country you’re less likely to have to submit to authority.
Again currently true. But the items he mentioned come from poor societies that need to support and help the family and for control in harsh conditions. As China/India becomes more affluent those negative things will diminish. However, in the USA in tough times those same values might be challenged.
From this story you can see that economic power in the 21st century is not going to look like economic power in the 20th century. The crucial fact about the new epoch is that creativity needs hubs. Information networks need junction points. The nation that can make itself the crossroads to the world will have tremendous economic and political power.
Here is the key point - He does not explain how this will keep 1?? million people employed.
