Trump said: “It’s all about manufacturing, and we’re bringing it back in record numbers.”
Even if this were true, why would it be good for the economy?
Why is it good to bring back manufacturing which will then cost more than before? What’s good about producing the same stuff at higher cost = higher prices = lower standard of living?
Why reduce our standard of living by transferring the production from China, where it costs less, to the U.S., where it costs more? How do we benefit from higher cost and lower living standard?
How will unnecessary factories benefit our economy any more than they benefited the Soviet Union’s economy, where they had wall-to-wall makework factories?
No, produce it here if it’s more profitable to produce it here. But don’t “bring back” something which costs more to do here than in China (or wherever).
The function of manufacturing companies is to serve consumers, which means producing the stuff where it is more cost-efficient and profitable for the company. We need the products, but not Trump’s mindless “jobs! jobs! jobs! jobs! jobs!” babble to win applause from brain-dead idiots who think the role of business is to provide babysitting slots for job-seekers.
Manufacturing that has left is mostly low skilled labor, or automation in more developed areas, trying to compete and “bring it back” is not going to help the consumer or American worker.
First let me say that it’s up to each company and small business to make this type of decision. Here where I’m not sure your argument is valid. You are say that manufacturing things here will reduce our standard of living because manufacturing things in other countries is much cheaper and hence will increase the prices we pay for things. On the flip side of this is that we provide many forms of welfare to those who are in low paying jobs, which in turn reduces our standard of living. So the question then becomes economically, which is better (or worse)? The thing is I have heard some people here say that they will be happy to spend more for a burger for example if it means a higher minimum wage but now it seems that now they don’t want to spend more if it means better paying jobs?
Here is the bottom line if it is something people feel they can’t live without, i.e. a cell phone, they will willing to pay more. If it something that they feel they can do without, i.e. paying $15 bucks for a burger, they will go without that.
The thing is that it got me to think that if in theory - or reality - anything can be manufactured cheaper somewhere else, then why is it that there still is manufacturing here in the US? He is arguing that if we want a better standard of living that this would be the way to go, correct? Why then don’t law makers push for that if that is what is going to raise our standard of living?
Or, the top 5% in this country, and large corporations, who have grown their wealth and profits exponentially decade after decade can stop taking so much, and pay people better wages without raising prices. But, since they give up nothing, it will never happen. Instead, they’ll keep giving out debt to the middle class instead of better wages - that way you still own people. Wages are awesome when the worker pays you back at interest.
Some things can be manufactured cheaper here. Some things can be manufactured cheaper overseas. The free market determines the difference. Should government do that instead?
Large corporations on average pay their employees higher wages than other business. You seem to claiming that companies like Microsoft, Google, Apple, Amazon, etc., don’t pay their employees well?
Depends on the job description. Some corporations do pay well, yes. Software pays well but its very competitive in those companies. But when you look at the big picture, macroeconomically most people are paid ■■■■ even in large corporations. IT has always paid decently
You named the top 1% of corporations who all are major software companies. This isn’t indicative of the larger corporate landscape of paying their workers a living wage.
You put amazon in your list and they JUST started paying their blue collar employees $15 an hour.
One of the main points of this thread is about doing things or not doing things that affect the standard of living in the US. So in that regard government trying to bring certain jobs back to the US can potentially be a positive thing.
Why is it good to bring back manufacturing which will then cost more than before? What’s good about producing the same stuff at higher cost = higher prices = lower standard of living?
Why reduce our standard of living by transferring the production from China, where it costs less, to the U.S., where it costs more? How do we benefit from higher cost and lower living standard?
Part of the argument is that bringing back manufacturing jobs that have left the US will lower our standard of living.
Because blue color people need food to. It’s interesting 8 years ago the left was talking about 800 billion dollar stimulus and shovel ready jobs. Fast forward to 2019 they are starting to sound like Ayn Rand full steam ahead free markets.
