With Outsourcing can Economy be Fixed?

28 Jul

Is a viable US economy in the face of unabated outsourcing an oxymoron?
In 1964 I “outsourced” to Japan, in the Seventies I arranged for outsourcing to India, at that time the US economy was doing well; outsourcing was an anomaly.
The world of the Sixties and Seventies had changed, the US economy is in shambles, and the present Administration is unable to govern the country. Now outsourcing, except for bringing new technology into the US, hurts the economy.
Can one limit outsourcing in a free market economy? Tariffs on imported products moves the US away from free market economy. Taxing all foreign profits of tentacles of US companies would help, but is that enough?
Asking companies to be “patriotic” and not outsource at the expense of profit would be contrary to free market, and harmful to shareholders, what can be done so that the US economy return to viability?
If it were my responsibility for fixing the US economy, I would start by taxing all foreign profits of US Corporation. I would sacrifice some freedom in the market and put heavy duty;on imported oil that will force the US to start utilizing its vast domestic oil resources. This could be hard for a while with increased gas prices, but it should not take long before domestic oil (starting with Keystone, then fracking, from Government lands, etc.) would allow America to return to economic dominance; energy, after all, is the fuel of any economy.

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