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> And yet manufacturing is still important for the health of a country’s economy, because no other sector can generate nearly as many well-paying jobs. Take Fac
by FussyZeus 11y ago
> And yet manufacturing is still important for the health of a country’s economy, because no other sector can generate nearly as many well-paying jobs. Take Facebook, which at the end of last year had 12,691 employees, versus the 344,109 that Toyota had at the end of its fiscal year, in March 2015. Making things still matters.
There are so many assumptions in this article but especially here. Author assumes people are required to make things, they are not. Author assumes factory jobs will pay well, they often don't, and there's no reason they will. And the employment disparity between IT companies and Manufacturing is showing that you can create a ton more wealth with a small number of IT people than a huge number of manufacturing people, which is why Wall Street values those companies higher these days.