YaleGlobal. April 11, 2012.
As the US confronts stubborn unemployment and a shrinking industrial base, a battle is shaping up about reviving manufacturing. Here, the author examines the political and ideological implications of promoting manufacturing. He says there’s good reason to emphasize manufacturing over consumption for an economic rebound, and manufacturers are a major source of innovation. However, US manufacturers must compete with those in Asia with wage pressure and demands for higher productivity. As a result, skilled factory workers can no longer count on pay packages that support a high standard of living, the author claims. [Note: contains copyrighted material].