Quote:
Originally posted by The Larry Davis Experience
How do you develop a viable middle class in a country with an economy built on oil resources and no real manufacturing base?
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It isn't going to happen fast, that is for sure. However, the longer we postpone even trying, the longer we postpone winning the war on terrorism.
I don't think that a manufacturing base is essential to having a middle class. Less and less manufacturing is done in the US and our incomes have risen over time. A service based and agricultural based economy can work, too. If the Iraqis develop their service sector and their agricultural sector, that along with their oil revenues will go a long way toward developing a middle class.
One of the problems in these middle eastern countries is that they outsource all the jobs that the oil industry provides to foreigners.
Training their own people to do these jobs will help their unemployment situation.
