3 ms·

Also, they have a large and still functional industrial base.

• yamtaddle 4y ago
  US industrial production is at or near all-time highs, no?
  • gumby 4y ago
    In dollar volume yes. In mass of materiel, or flexibility, less so.
    • klooney 4y ago
      There was a great econtalk episode that I can never dig up claiming that even that was mostly about hedonic adjustments for the quality of Intel chips.
  • klooney 4y ago
    Tim Cook: “In the US, you could have a meeting of tooling engineers, and I’m not sure we could fill the room. In China, you could fill multiple football fields" And that story repeats all the way up and down the supply chain. In WW II the USA was basically China- they had a thick supply chain from raw materials up, and could spin up factories because they had experienced people who could bring along new employees. We still think of ourselves as being that country but we're not, and a new serious war would play out with a very different script.