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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (49901)5/12/2004 10:10:10 PM
From: AC Flyer  Read Replies (3) of 74559
 
Thanks for the article, Jay, which was a fine assemblage of old chestnuts and conventional wisdom. The same guy, no doubt, would have written the same article 100 years ago lamenting the loss of "good" agricultural jobs. What will this idiot find to say in 100 years when 95% of all US jobs are service jobs?

Why is it, by the way, that the people who make a career out of whining about the loss of "good" manufacturing jobs have usually never set foot in a factory. Manufacturing work is often mind-numbingly repetitive, often dirty and sometimes dangerous. I for one am damn glad that we can hire the Chinese to do the worst of this kind of work for us for peanuts.

Now, repeat after me - the US is losing manufacturing jobs but US manufacturing output as a percentage of US GDP remains approximately constant. This is now, has been and will always be. Why? Because the US is at the leading edge of the trend towards a post-industrial global economy, in which less than 10% of the global workforce will make everything. In the US, the pattern has been the same for the last 50 years. Significant manufacturing job losses in recessions, followed by the recreation of about half the number of manufacturing jobs lost during the recovery.

How come you can not see the big picture?
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