Apple's Flawed Arguments On American Jobs

prestowitz.foreignpolicy.com — We learn that 90 percent of the parts of an iPhone are made outside the U.S. Then we hear Jobs (as in Steve) say: "those jobs aren't coming back." But wait a minute. The parts we are talking about are microprocessors, memory chips, displays, circuitry, and chip sets. These are all the kind of advanced, high-tech, capital intensive, knowledge intensive, not cheap-labor intensive products in which economists, business leaders, and political leaders always say America has a comparative advantage because it is the technology leader. Why are South Korea, Taiwan, and Japan supplying the memory chips and micro-processors and displays instead of the United States? As a leading U.S. negotiator on these issues for some time, I can tell you.

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