When Factories Vanish, So Can Innovators
By LOUIS UCHITELLE
Published: February 12, 2011
Below is a snippet:
"Concern is increasing that this decline has gone too far. “I think there is a growing recognition that a diminished manufacturing sector will undermine our economy,” says Mark Zandi, chief economist for Moody’s Analytics.
How did the nation get into this situation? It gambled, in effect, that by importing more from foreign suppliers and from American companies that had set up shop abroad, consumer prices for manufactured products would fall, without any sacrifice in product quality. Low-wage workers abroad would make that happen."
More and more people are starting to realize that when manufacturing moves off shore, suppliers follow, R&D follows and is is a very slipper slope...