My position perhaps more clearly stated is that if all markets were clearing then phenomena such as: lack of educational improvement, globalization, de-industrialization, skew of technological improvement towards information technology, energy shortages, etc would show up in wages.

FORBES: Stagnation and Recession

They've already got a degree of industrialization, but what they want to do now is raise the technological level of their industry.

FORBES: Tracking The Sovereign Funds