Cultural Offering excerpted a Boston Globe column by Jeff Jacoby on manufacturing.
It's a great find:
"'The decline, demise, and death of America’s manufacturing sector has been greatly exaggerated,’ says economist Mark Perry, a visiting scholar at the American Enterprise Institute in Washington. 'America still makes a ton of stuff, and we make more of it now than ever before in history.’ In fact, Americans manufactured more goods in 2009 than the Japanese, Germans, British, and Italians — combined."
American manufacturing output hits a new high almost every year. US industries are powerhouses of production: Measured in constant dollars, America’s manufacturing output today is more than double what it was in the early 1970s."
Manufacturing is alive.
Here's a graph that shows the U.S. historical output. Certainly proof Capitalism works. http://markspearman.com/all-of-our-jobs-going-to-china-really
ReplyDeleteIt does leave one to question many things that it doesn't tell us. How much of it is military production bought on borrowed money? How much as automation played a role?