SoS doesn't need to write a book, he needs to actually do some research because he is just plainly wrong. Mfg jobs have been decreasing while mfg output has risen, and that preceded Clinton and Bush by decades.
Smoot Hawley didn't create the depression, it made it worse, throwing many nations around the world dependent on US trade into depression also. It certainly didn't create any jobs here.
A 30% across the board tariff would devastate our economy, not in any way help it. We are the worlds 3rd largest exporter, with over 1.2 trillion in 2010, and as other nations retaliated, that business would evaporate. A 30% price increase on consumer goods would tank purchases, not create mfgs here.
Protectionism doesn't work. Its been proven over and over. However, free trade agreements have increased imports and exports of both parties in every instance, growing business and adding jobs.
That's why lower tariffs and streamlined trade regulations are a conservative mainstay, while tariffs and protectionism are liberal ideals.
Some points well taken. I remember discussions back in 7th grade (’67) of the U.S. moving from a manufacturing economy to a service economy...which you chart clearly shows. I’ve worked in and around manufacturing nearly my entire career.
Innovations for manufacutring and production have contributed to the loss of many hands-on jobs. Saw that with robotic welders and soldering.
I agree on the stifling regulations being a hindrance to new companies and new jobs being created...but I’m not smart enough to go back and say which of the old laws or policies was THE cause. There are many reasons...and you both make valid points.
