Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Stagerite
"The ISM index is compiled from monthly responses by purchasing executives at more than 400 industrial companies, ranging from textiles and chemicals to paper and computers."

Yes... PURCHASING managers, NOT manufacturing managers.
The survey is skewed by these companies taking full credit for their finished product, despite ever-increasing proportion of foreign componts that are purchased rather than manufactured domesticly. As our Trade Deficit races to astronomicly absurd levels, the ISM stats continue to give a distorted perspective of "manufacturing" that is rapidly morphing into mere warehousing and distribution.

51 posted on 06/01/2004 10:59:49 AM PDT by Willie Green (Go Pat Go!!!)
[ Post Reply | Private Reply | To 38 | View Replies ]


To: Willie Green
As our Trade Deficit races to astronomicly absurd levels

The secret within capitalism is the wealth generation inherent in what Adam Smith calls "The division of labor," where, for instance, finished cloth is produced by machines that have replaced labor intensive devices such as spinning wheels and hand looms.

It is that creaton of wealth inherent in capitalism that makes nations wealthy -- that makes nations able to buy more than they sell (a "balance of payments deficit") -- that essentially blesses people within that nation.

56 posted on 06/01/2004 11:57:29 AM PDT by Stagerite ("The road to hell is paved with good intentions.")
[ Post Reply | Private Reply | To 51 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson