A Grove of Misconceptions

Here's a letter to Bloomberg:

Intel's legendary founder Andy Grove worries that America's economy isn't creating enough jobs ("How to Make an American Job Before It's Too Late," July 1).  His analysis, however, suffers from several flaws.  Perhaps the deepest of these is Mr. Grove's conclusion that, because the amount invested per worker today in U.S. high-tech industries is much higher than it was in the past, "the U.S. has become wildly inefficient at creating American tech jobs."

Mr. Grove...