Corporations

Gus Tyler, a representative from the International Ladies' Garment Workers Union spoke to a group in the Winthrop JCR on the relationship of multinational corporations to ills of the U.S. economy.

Tyler criticized Adam Smith's theory of comparative advantages as "silly" because both heavyflight industries are moving to foreign countries.

The multinational corporation is "turning U.S.'s advantages--capital, superior technology, and entreprenurial skill--into disadvantages by shipping them overseas," Tyler said.

The result is a decline in manufacturing and a service economy, he added.

Tyler concluded, "Without manufacturing, you can't even fight when the foreign countries get restless. When they say "Yankee go home', what do you do? You can't fight a war with a service economy."