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.
We will have the highest standard of living with a strong industrial base making the economy hum along. Manufacturing creates wealth.
I agree with that. What we will not have, however, is a strong industrial base with more than 10% of our work force employed in manufacturing. Those days are gone forever -- and for the same reasons we no longer have 95% of our workers employed in agriculture. Our "strong industrial base" will be more of what it already is: technologically advanced and heavy automated, with very low labor costs compared to the value of the products that are made.