True or False – Walter E. Williams – Townhall Conservative

 

“The United States got to where it is today by making things.” “There’s nothing made here anymore.” “One-third of the nation’s manufacturing jobs have vanished in the past decade.” These statements suggest that we are no longer the world’s top manufacturer; we have all but turned into a nation of “hamburger flippers.”

According to data assembled by Dr. Mark Perry, in his article in The American (12/23/2009) titled “Manufacturing’s Death Greatly Exaggerated,” “For the year 2008, the Federal Reserve estimates that the value of U.S. manufacturing output was about $3.7 trillion.” If the U.S. manufacturing sector were a separate economy, with its own GDP, it would be tied with Germany as the world’s fourth richest economy. The 2008 GDPs were: U.S. ($14.2 trillion), Japan ($4.9 trillion), China ($4.3 trillion), U.S. manufacturing ($3.7 trillion), Germany ($3.7 trillion), France ($2.9 trillion) and the United Kingdom ($2.7 trillion).

U.S. manufacturing employment peaked at 19.5 million jobs in 1979. Since 1979, the manufacturing workforce has shrunk by 40 percent, and there’s every indication that manufacturing employment will continue to shrink. Because of automation, the U.S. worker is now three times as productive as in 1980 and twice as productive as in 2000. It’s productivity gains, rather than outsourcing and imports, that explains most of our manufacturing job loss.

True or False – Walter E. Williams – Townhall Conservative

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