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It's not just Trump, it's also US public who thinks that domestic manufacturing brings jobs. Even Destin Sandlin (Smarter Every day guy) hinted it in a recent v
by nabla9 1y ago
It's not just Trump, it's also US public who thinks that domestic manufacturing brings jobs. Even Destin Sandlin (Smarter Every day guy) hinted it in a recent video https://www.youtube.com/watch?v=3ZTGwcHQfLY https://www.youtube.com/watch?v=3ZTGwcHQfLY
Manufacturing as share of jobs declines even in those countries that are big at manufacturing. China, Germany, Japan, South Korea. China buys half of worlds robots. Manufacturing can create only very low paying jobs that people do in third countries.
You can bring more manufacturing but not much more jobs. Most likely the lost comparative advantage means net welfare loss if you force it.
- toomuchtodo 1y agoThe US public thinks bringing back domestic manufacturing will bring back good jobs. Of course, this is not true. Most of this will be automated. Importantly, any job can be a good job with a sufficient wage and labor protections. The performance art around "good manufacturing jobs" is a carrot being thrown to an unsophisticated electorate so they don't find out there aren't going to be good jobs for them (and so they don't figure out that organizing and labor policy are the only ways to better jobs). Very similar to the propaganda of unskilled vs skilled labor and the justification for the pay disparity between the two.