For one thing, the expertise in whatever was being made stayed in this country. For another, the wages and taxes paid here were spent here.
We've gone from making things (creating wealth) to running tanning salons and pet boutiques (spending wealth) - not a good base for a national economy.
Agreed but I don't see that changing now that we have a regulate everything mentality. When you sign up to wear the Government pampers you end up with low-paid foreigners wiping your butt.