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Indeed, US manufacturing has a higher output now than before outsourcing took off. But it employs far fewer people per inflation adjusted dollar of output. Beca
by vidarh 2y ago
Indeed, US manufacturing has a higher output now than before outsourcing took off. But it employs far fewer people per inflation adjusted dollar of output. Because the manufacturing that stayed was largely the manufacturing that was so cost-effective to automate that not even third world labor could compete.
- piva00 2y agoJust to add to your point: what stayed was either cost-effective to automate or had so much value added that the labour component is quite low (like jet engines).