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I remember that in my Econ class, so many years, the idea that we could close manufacturing plants and transfer them to low cost labor countries and not have a
by WheelsAtLarge 7y ago
I remember that in my Econ class, so many years, the idea that we could close manufacturing plants and transfer them to low cost labor countries and not have a replacement job in the US was a very big discussion that my professor could never answer with clarity. He would always say that the US economy would develop other ways to employ the people that lost their jobs. So even then there was a lot of dought on the idea of globalization.
Ok fine, there was a mistake in thinking but there's no one that has a satisfactory answer on what to do to fix the problem.
I for one think that we can't go back to the way things were so we need to start by separating benefits, health care ins. and such, from employment. Once that's done people will be freer to take on jobs that are not high paying but are being created by the gig economy. We also need to cut the workweek to fewer hours lets say 30hrs vs 40hrs now.
The last part is automation. As a country we need to embrace it. They say that automation brings on more jobs than it destroys but nothing says that those jobs will be in the US. Whether we like it or not it's coming so we need to be the country that controls it.
- christophilus 7y agoI agree completely. One other aspect that often gets lost in these conversations is that manufacturing capacity is a huge part of what wins wars. The US won World War II largely because we could produce planes and ships faster than our enemies could destroy them. When we shipped our manufacturing capabilities overseas, we also undermined a key wartime advantage. It is within our national interest to have a strong industrial base. The only way I can see that happening from here is automation.