The Death of U.S. Manufacturing Was Greatly Exaggerated
It has become almost an accepted truth that the U.S. is no longer a major global player when it comes to manufacturing activity. Well guess what: this represents more rumor than fact as Mark Perry illustrates in an op-ed appearing in today’s Wall Street Journal. While the U.S. economy has certainly experienced a great deal of structural change over the past several decades (shift from goods production to services), innovations and other forms of technological progress have allowed the nation’s farms and factories to become more productive and thus generate as much output with significantly fewer workers.
02-25-2011 3:15 PM