Manufacturing jobs are no better for America than other jobs. Some argue that they are worse. How many parents want their children to work in factories rather than offices? Increasing service jobs in medical, financial and computer sectors while importing manufactured goods doesn't hurt America. It helps America.
This is a common misconception in the US, and regardless of what parents might want, I strongly disagree.
[[MORE]]
Service-based jobs depend on the existence of producers. Without that industrial base, those jobs go away. Producers are, in general, manufacturers.
A service-based economy (like the current situation in the US) is fragile. Production is wealth; money flows toward producers (provided they're producing something that is also consumed). That's why the US has such a huge trade deficit and China has such a huge trade credit. It's also why the world's largest creditor nation has always ended up dominating the world's economy.
No comments:
Post a Comment