Friday, February 11, 2011

Is U.S. Manufacturing In Decline?

No.  Read about it here

Next time you hear that our economy is in the doldrums because we just don't make anything anymore, you will know you are listening to someone who hasn't done their homework, and really is just wrong.

If that someone happens to be a politician, please don't vote for that person ever again.  If that person happens to be a President, that recommendation should be underscored.  If that person happens to be a journalist, you will now know who not read.  If that person happens to be one of your college professors, you have my complete and utter sympathy.  Maybe you should drop the class?

U.S. companies still manufacturer far more than everyone else in the world, including China.  We just do it with such high productivity that we don't need everyone working in factories anymore.

The very same thing happened in agriculture in America during the first half of the 20th Century.  Now it's happening in manufacturing.  But what about all those lost jobs?

If you are someone whose labor services are no longer in demand, you definitely have an immediate problem.  But the problem is an old one; it's the same problem the candle makers had when electric lights became all the rage.

So what to do?  I think we already know the answer.

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