Here's the chart... Employment and Output charts over-layed.gigag04 wrote:You're kidding right?PBratton wrote:We have a faint shadow of the industry available that we had during WWI & WWII.
Wikipedia, but it seems close to what I've read if not right on:
"Below is a list of countries by Industrial output in 2010. Output is in millions of US$.
Rank Country Output
1 United States - 3,239,374
2 China - 2,756,903
3 Japan - 1,359,259
4 Germany - 921,749
5 Brazil - 560,204
6 Russia - 539,149
7 Italy - 519,944
8 United Kingdom - 489,945
9 France - 477,767
10 Canada - 413,975"
One word... PRODUCTIVITY.
Source: http://mercatus.org/publication/us-manu ... utput-vs-j" onclick="window.open(this.href);return false;
Also: http://www.federalreserve.gov/releases/g17/current/" onclick="window.open(this.href);return false;
Money will be invested where it can earn the most (or at least a fair and predictable) profit....
Let's not lose sight of the word PREDICTABLE.
Random thought....
I have NEVER been offered a full time job where my wages would be paid by a poor person.
It would be a huge mistake to vilify the pursuit of profit. That would be called Socialism or Communism. Doesn't work long term.
The pursuit of profit at the expense of all other things poses it's own problems as well, but that's another thread.
So..... What are we talking about then?
Job creation in the USA.
Reality:
1. Global communication is fast and cheap.
2. Global transportation is faster and cheaper than ever.
3. Barriers to trade are, overall, the lowest they've ever been.
4. Investments will go where there is more profit to be made.
5. Western Europe, US, Canada, Australia, NZ, Japan, etc enjoy a high standard of living and high (relative) wages.
6. Much of Asia, Eastern Europe and India have lower standards of living and commensurately lower wages.
So... If I have some cash and an idea to start a business making widgets, what is the most profitable thing to do?
Produce my widget in a low-wage country and sell it in a high wage country, DUH.!
Just like.... WalMart, Target, IBM, HP, ------> everyone.....
This is a fact... No point in arguing about it, or feeling bad about it... It's just fact.
Money will seek the highest return. And that's a good thing.... but sometimes painful to those impacted.
The question we should be asking is.... "What can we do to stem the flow of jobs away from the USA and create new jobs here too?"
There is no single solution. Many things need to happen but the reality is that nothing will stop the flow of jobs that can be done (competently) for less wage from moving to a lower wage employee. Anything done to artificially halt this flow is only temporary. The solution...?
Reduce the cost of doing business in the USA.
Tax reform
Reduce regulations
Change the role of government back to "Keeping us safe and maintaining a level playing field" and get them out of the business of "Picking Winners".
Stem the tide of illegal immigration, purge the country of people who arrived here illegally, stop supporting illegal residents with taxpayer dollars.
Just a start... there's lots more we can do to make us a more desirable place for job creation.