Oh man, they really tried in that article. We went from manufacturing being 53 percent of the total economy in 1965 down to nine percent in 2004, and it’s been falling since then. Gotta stop pretending that the dollars are leaving this country never to come back. Alexander Hamilton’s Report on Manufactures has never been so valid as today . . . self-sufficiency in manufacturing industry equals national security to a great degree.
True but remember 1965 was still post WWII where we stood like a Colossus in the world.
There was little or no competition from Europe. Asia and South America did not have the rule of law, Central Banking systems, infrastructure, education, or political stability necessary for economic growth.
As a society we want the high wage, high tech, high value added manufacturing.
That is where we need to focus.
Of course it doesn't help that GE just moved their High Tech Imagine Division to China.