Stalin
Well-Known Member
- Joined
- Apr 4, 2008
- Messages
- 3,260
Sober assessment of the reality behind the talk
Posted in the hope of a real debate instead of the usual tribal mudslinging
"..Back in 1987, the economists Stephen Cohen and John Zysman warned:“Lose manufacturing and you will lose – not develop – high-wage service jobs.” How prescient they were. Everywhere factories have fled, social rot has followed. Since then, wage growth for most Americans has been stagnant. For those without a college degree it has declined. The promise of a “service economy” was built on the myth that jobs in services could simply replace jobs in manufacturing, without any real trade-off. But, as experience has shown, many service jobs have proved to be stubbornly low-waged.
And there is good evidence that, all things being equal, jobs in manufacturing still offer pay advantages over jobs in services. Moreover, as developmental economists have long acknowledged, the health of a nation is tied to the health of its industrial heartlands. Just look at China’s explosive rise to see how important manufacturing is to a nation’s economic strength. Or, alternatively, look at the deindustrialization of the United States, and now Germany, for examples of the equal and opposite effect. A decline, especially a rapid one, in manufacturing is linked to a decline in the social and economic health of the country as a whole.
comrade stalin
moscow
Posted in the hope of a real debate instead of the usual tribal mudslinging
"..Back in 1987, the economists Stephen Cohen and John Zysman warned:“Lose manufacturing and you will lose – not develop – high-wage service jobs.” How prescient they were. Everywhere factories have fled, social rot has followed. Since then, wage growth for most Americans has been stagnant. For those without a college degree it has declined. The promise of a “service economy” was built on the myth that jobs in services could simply replace jobs in manufacturing, without any real trade-off. But, as experience has shown, many service jobs have proved to be stubbornly low-waged.
And there is good evidence that, all things being equal, jobs in manufacturing still offer pay advantages over jobs in services. Moreover, as developmental economists have long acknowledged, the health of a nation is tied to the health of its industrial heartlands. Just look at China’s explosive rise to see how important manufacturing is to a nation’s economic strength. Or, alternatively, look at the deindustrialization of the United States, and now Germany, for examples of the equal and opposite effect. A decline, especially a rapid one, in manufacturing is linked to a decline in the social and economic health of the country as a whole.
The case for American reindustrialisation | Dustin Guastella
Walking through the US’s deindustrialized zones is a bit like walking through Dresden after 1945. We can rebuild better than before
www.theguardian.com
comrade stalin
moscow
