Too many American policy elites - pundits, economists and policymakers – tragically accept the ongoing catastrophic decline of American manufacturing as inevitable. As some 5.5 million jobs and 54,000 factories have disappeared over the last decade, many U.S. elites have noted that intense competition from low-wage countries has caused other industrialized countries to experience similar declines. This view is wrong.
In fact, the United States’ precipitous drop in manufacturing is actually atypical. Indeed, the manufacturing employment, output and market share of many other comparable countries has actually been stable in recent years. Between 1997 and 2010, U.S. manufacturing job growth was the worst among a group of ten OECD countries while Germany’s was the best.
To read the full, original article click on this link: America must learn from Germany – before it’s too late – Global Public Square - CNN.com Blogs
