4 ms·

Counterpoint: America builds more things today than almost ever before. https://tradingeconomics.com/united-states/gdp-from-manufacturing https://tradingeconomi

Counterpoint: America builds more things today than almost ever before. https://tradingeconomics.com/united-states/gdp-from-manufacturing https://tradingeconomics.com/united-states/gdp-from-manufact... Or at least, we did a few months ago. We seem to be hitting a recession this year specifically but our GDP from manufacturing is better today than from the 2010s, 2000s, 1990s, 1980s, etc etc. ------ While other counties struggled to get COVID-19 vaccine manufacturing, US companies mass produced highly effective next-generation MRNA vaccines thanks to a combination of supercomputer analysis, genetic analysis/sequencing, and high end health care testing in record time. Then the formula was mass produced, largely in USA (though requiring lots of supplies from Europe). We are making things, we are making new useful better things, etc etc. It's less gloom and more hope if you actually look at the numbers.

wahern 4y ago
> America builds more things today than almost ever before. Higher valuation != "more things".[1] Our manufacturing has shifted toward high-value products, which is typical for advanced economies. Manufacturing's share of GDP has remained roughly steady: https://www.stlouisfed.org/on-the-economy/2017/april/us-manufacturing-really-declining https://www.stlouisfed.org/on-the-economy/2017/april/us-manu... But the share of manufacturing employment has dropped from 1/3 (33% circa 1950) of the population to about 10% (circa 2019). See earlier link as well as https://www.bls.gov/opub/btn/volume-9/forty-years-of-falling-manufacturing-employment.htm https://www.bls.gov/opub/btn/volume-9/forty-years-of-falling... I believe Boeing alone accounts for something like 10% of manufacturing GDP (no link handy, but at one point Boeing was reported to account for 1% of total GDP). In any event, the reason people are convinced that we don't build anything is partly a consequence of the fact that so few Americans participate in the manufacturing economy; and of course partly a consequence of the fact that so many durable goods used in daily life are imported. [1] I can't actually dispute "more things" as I'm not sure what we're measuring. I suppose it's possible some industries have become super efficient at pumping out some cheap products (e.g. paper cups) and could pad the numbers if we counted number of individual items made or exported, but that doesn't seem to be in the spirit of things. I believe the U.S. does have a brisk trade in specialty parts, though. Lots of boutique firms doing light manufacturing, AFAIU, helping to buoy employment in some places.
sdvsa 4y ago
The title could be better but I think this article is lamenting our inability to build ambitious infrastructure.

wahern 4y ago

> America builds more things today than almost ever before. Higher valuation != "more things".[1] Our manufacturing has shifted toward high-value products, which is typical for advanced economies. Manufacturing's share of GDP has remained roughly steady: https://www.stlouisfed.org/on-the-economy/2017/april/us-manufacturing-really-declining https://www.stlouisfed.org/on-the-economy/2017/april/us-manu... But the share of manufacturing employment has dropped from 1/3 (33% circa 1950) of the population to about 10% (circa 2019). See earlier link as well as https://www.bls.gov/opub/btn/volume-9/forty-years-of-falling-manufacturing-employment.htm https://www.bls.gov/opub/btn/volume-9/forty-years-of-falling... I believe Boeing alone accounts for something like 10% of manufacturing GDP (no link handy, but at one point Boeing was reported to account for 1% of total GDP). In any event, the reason people are convinced that we don't build anything is partly a consequence of the fact that so few Americans participate in the manufacturing economy; and of course partly a consequence of the fact that so many durable goods used in daily life are imported. [1] I can't actually dispute "more things" as I'm not sure what we're measuring. I suppose it's possible some industries have become super efficient at pumping out some cheap products (e.g. paper cups) and could pad the numbers if we counted number of individual items made or exported, but that doesn't seem to be in the spirit of things. I believe the U.S. does have a brisk trade in specialty parts, though. Lots of boutique firms doing light manufacturing, AFAIU, helping to buoy employment in some places.

sdvsa 4y ago

The title could be better but I think this article is lamenting our inability to build ambitious infrastructure.