George Will’s column of December 29 (Making America 1953 again) sheds light on the United States’ diminishing manufacturing employment as well as the failure of government intervention to save manufacturing jobs.
Simply put, two factors are responsible for most of the manufacturing job loss since the 1950s. First, the U.S. was the only significant industrial economy that had not been devastated by World War II so there was little global competition for U.S. firms. Plants ran at full capacity and corporations were able to grant wage increases with the knowledge that they could pass on the cost to consumers. The […]