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US generates little production know-how since Wall Street moved production to China.

• maxerickson 5y ago
  This is gratuitously false. US manufacturing output today is as high as it has ever been. Even low value add industries like steel production are at a significant percentage of their historical maximum output (they do tend to be relatively mechanized and automated and not job centers anymore).
  • gruez 5y ago
    >This is gratuitously false. US manufacturing output today is as high as it has ever been Right, but manufacturing's share of GDP is low as it has ever been. https://data.worldbank.org/indicator/NV.IND.MANF.ZS?locations=US https://data.worldbank.org/indicator/NV.IND.MANF.ZS?location...
    • wodenokoto 5y ago
      In this context that doesn’t matter.
    • nine_zeros 5y ago
      > Right, but manufacturing's share of GDP is low as it has ever been. That only means that we are creating more jobs than manufacturing can provide. There is no point in manufacturing more and more if current levels are enough. For an analogy, agriculture is only 2% of GDP but it is good enough to feed everyone. Increasing the percentage of GDP of agriculture is pointless.
    • sidlls 5y ago
      That's different from having the "know-how", though. We have the knowledge and ability to manufacture a lot--as much as or more than any past point in time. We just "produce" a lot more stuff that isn't manufactured now as a share of our economic output.