8 ms·
We should still differentiate between low value and high value add manufacturing though. Building automobiles and automobile parts, great. Relatively high skill
by yibg 9mo ago
We should still differentiate between low value and high value add manufacturing though. Building automobiles and automobile parts, great. Relatively high skill, high value add jobs. Spinning cotton, not so much.
If we have an infinite supply of labor with no better place to allocate them then sure, any additional job is good. But that's not the case. We have a constrained labor supply, so is it better overall to focus on high value, high pay jobs, even in manufacturing instead of aiming for the entire supply chain for everything?