The United States government is $16 trillion in debt. Apple has $100 billion in cash reserves. One is a mismanaged, bureaucratic nightmare; the other an innovative, highly efficient, profit-making machine. Clyde Prestowitz of the Economic Strategy Institute has an answer to the United States’ economic problems. Have Apple do them a solid:
Americans have become used to the fact that most of the jobs created by Apple are in China. We know that Steve Jobs told President Barack Obama that “those jobs aren’t coming back.” Recently, an executive at Apple said that the company has no obligation to solve America’s problems by moving some of those jobs back to the United States. As a business, Apple has a right to fear that moving the assembly work from China to the United States will entail raising labor costs so high as to make the company less competitive and profitable. But for it to say that it has no obligation to help solve America’s problems is completely unacceptable.
Unacceptable to whom? Continue reading