Staying Rich Without Manufacturing Will Be Hard

Noah Smith for Bloomberg View:  Discussions about manufacturing tend to get very contentious. Many economists and commentators believe that there’s nothing inherently special about making things and that efforts to restore U.S. manufacturing to its former glory reek of industrial policy, protectionism, mercantilism and antiquated thinking.

But in their eagerness to guard against the return of these ideas, manufacturing’s detractors often overstate their case. Manufacturing is in bigger trouble than the conventional wisdom would have you believe.

One common assertion is that while manufacturing jobs have declined, output has actually risen. But this piece of conventional wisdom is now outdated. U.S. manufacturing output is almost exactly the same as it was just before the financial crisis of 2008:  Full Article:

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

New M12 A-Coded Connectors from binder are now Ecolab and FDA certified

New M12 A-Coded Connectors from binder are now Ecolab and FDA certified

binder USA, LP, has expanded the M12 product family with the addition of the M12 A-Coded Connector, which is now certified for both Ecolab and FDA Code of Federal Regulations (CFR) Title 21 standards. The M12 A-Coded connectors are extraordinarily durable and IP69K-rated, ideal for harsh-duty and washdown applications in the food and beverage, pharmaceutical, and chemical industries. Available in 3, 4, 5, 8, and 12 contacts, the high quality stainless steel locking rings (V4A) and gold contact plating can also withstand UV exposure and shock and vibration.