The dilemma we face is that we can either employ a lot of people in manufacturing, or we can have the highest standard of living in the world. We really can't do both at the same time.
It's also worth nothing that the migration of manufacturing from the U.S. to other parts of the world isn't necessarily the result of some kind of betrayal or pernicious politics at work. The simple truth is that there are more than 7 billion people in this world, and the U.S. with its 300+ million people just isn't the same attractive market we used to be.
>>The dilemma we face is that we can either employ a lot of people in manufacturing, or we can have the highest standard of living in the world. We really can’t do both at the same time.
We did when I was young. But, you are right. Those jobs are lost forever. I wrote some long posts in another thread on this, but our problem is that we lost all the Stage 3 work in the Product Life Cycle, but our education system failed to become one that takes our “highest standard of living” nation to the highest level of education. A nation can lose all the Stage 3 work as long as it keeps the Stage 1 work, and doesn’t just give away the secrets so foreigners can create Stage 2 work for themselves.
We give away the tech for the Stage 2 work. We import educated labor for the Stage 1 work. And we charge thousands of dollars for the most useless Associates degree. Our education system cannot provide what we need to force the government to end the H1-B scam.
Not only is that statement wrong it is just crazy. We will have the highest standard of living with a strong industrial base making the economy hum along. Manufacturing creates wealth.