The State of Manufacturing in the United States

by Don Boudreaux on April 20, 2009

in Myths and Fallacies, The Economy, The Hollow Middle, Trade

This is a pretty darn good report from Harold Sirkin at Business Week.  A key paragraph:

As Stephen Manning of the Associated Press acknowledged in a rare “just the facts” story in mid-February, the U.S. “by far remains the world’s leading manufacturer,” producing goods valued at a record $1.6 trillion in 2007 — nearly double the $811 billion produced a decade earlier.  Indeed, the AP writer noted, “For every $1 of value produced in China’s factories [in 2007], America generated $2.50.” Not bad for a country that doesn’t produce anything anymore.

The facts contradict those who insist that freer trade condemns high-wage countries, such as the United States, to suffer net losses of highly productive enterprises.  (More such facts on manufacturing in the U.S. can be found here.)

(HT Walter Peterson)

Be Sociable, Share!

Comments

comments

51 comments    Share Share    Print    Email

{ 51 comments }

Scott Vines October 20, 2009 at 12:35 am

Manufacturing as a PERCENTAGE OF GDP has been declining for 50 years. Yes, in absolute terms the United States produces a lot of goods and still outproduces its competitors, but so what?

Previous post:

Next post: