Abe Hirschfeld: Rebuilding our Economy the 'Old Fashioned Way: Myth or Reality?

(PRWEB) September 28, 2004 -- Upstate New Yorks Economy has been in shambles for over a decade." -- reads the first line in Abraham Hirschfelds Plan to revitalize Upstate New York. Abraham (Abe) Hirschfeld has been a noted builder and Real Estate Developer in the New York State Region for over half a century now. Some of his accomplishments include making a fortune building multi-story car parks, being the Deputy Mayor of Miami Beach, etc among many others. He feels very strongly about physical infrastructure (construction industry) being the bare bone of every economy.

However, this notion has been displaced in recent times with the accent of the internet, the 'Startup industry, outsourcing of products and facilities from one country to another and related technological advancements. Priorities have shifted towards 'Low Cost initiative in most of Corporate America today. The Low Cost initiative is definitely helping people, but who are these people? Well, it helps the 'Officers in Corporate America the most. The common man in no way is benefiting from this Low Cost Initiative; in fact he is at risk of losing his job when manufacturing lines and services are 'outsourced or transferred to developing countries where this work is being done at half or sometime even at one-fourth the price.

The profits generated fill the pockets of those high up in Corporate America. However, I am sure this is common knowledge in that people are aware of this. The question I would like to ask is if people know of this, are they happy with this situation -- the situation that their jobs are under threat and that 'nothing is being done about it? If not, is anyone doing anything about it? To this question, there seems to be an answer. The answer is to revitalize our economy the way it makes sense logically and the way it has been done for a long time -- using our capital resources to build infrastructure, physical infrastructure to be precise. This is exactly what Abe Hirschfeld wants to do. He feels that building and construction are the effective ways to improve an economy which has been stagnant for a while, much like the one weve been lately living in.

Construction however has not seen much progress lately and Abe feels its time we start from the grass roots and help get the economy moving by engaging in building our physical infrastructure, that is constructing multi-story buildings, roads, first within a small city and expanding it and implementing projects at a higher level. A pertinent example would be the Tribeca area which in recent times has become one of the hip areas of New York City. Abe was responsible for building a lot of the infrastructure in this area. Abe wants to implement this idea in Upstate New York to begin with and eventually spread out. As most economists would agree, investing capital is an obvious way leading to economic growth. Why not invest this capital in building and construction which will help the economy we live in move in a positive direction given at it is currently in a 'slump.

Time and again, weve seen and research over the years has shown that investing in construction is a fool proof way to help an economy grow. For instance, not too long ago, the New Zealand Herald published a news report regarding a downturn in the building and construction industry which would shave off two percentage points off economic growth in the next two years. Two Percentage points is not negligible when the economy as a whole is already going through a rough patch. Another example is China where the total building projects today account for approximately one fourth of the worlds total. Their construction industry has reported a growth of 7.3% with their building materials industry reporting an even greater growth of 10.6%. The immediate question that comes to mind is what is China doing to cope with this growth? The answer is quite obvious in that the resources they employ have to increase in order to cope with this increase in growth. Increasing resources would mean employing more man power, creating jobs are millions of people throughout.

Employment in turn leads to direct growth of the economy in real terms. Everyone is better off when an economy is on the up compared to a select few who benefit from activities in Corporate America. This is the main reason why investing in construction and building physical infrastructure would directly help the growth of our economy. Abe is on the right path to indulge in the construction industry as it would definitely help our economy get a 'push which eventually will lead to growth in the economy. So, however old fashioned the idea of investing capital in the building industry may sound, it seems like a sure shot at improving our stagnant economy.
http://www.abehirschfeldforsenate.com

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