Eugene David<br>...The One-Minute Pundit

Posted 7:08 PM by Gene

We don't know who "Schumpeter" is -- and chances are we don't want to know as the TWXSTERS invented ANONYMOUSES and ERs and other giants who'd be better off unknown -- but in typical Econowiz fashion he, she or it said things about us and the Indians he, she or it may not have fully intended:

America produces all sorts of things that Indians crave, from iPads to MBAs to fighter planes.

Nice, but the first two people really don't need and the third are merely government. And guess who makes the iPads.

IBM employs more people in India than in the United States.

We can see its zillionaire CEO now: "IBM IS NOT AN AMERI...whoooooooooooooops!"

Indian firms place a higher value on innovation than the American companies.

This will prove one of the few lines the Econowiz-boasting CEOs will read in an issue that would otherwise gather their fairy dust on their extravagant desks, meaning more jobs to India.

And the pièce de résistance:

There is an upside to these downsides. Frugal products will be a godsend for America’s pinched consumers. They may even prevent the American economy from being crushed by the health-care Godzilla. But Americans need to get back on the treadmill. In a recent speech Mr Obama told schoolchildren in Philadelphia that: “When students around the world in Bangalore or Beijing are working harder than ever, and doing better than ever, your success in school is not just going to determine your success, it is going to determine America’s success in the 21st century.” That is not a bad theme for the next two years of his presidency.

I smell more spending on EHDYUKAYSHUN! I smell more pointless testing! I smell -- MORE RENDELLISM!