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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: ThirdEye who wrote (19557)	12/27/2004 1:34:49 AM
From: GraceZ	Respond to of 116555

The dissolution of unions, however, would not have saved our manufacturing base and will not bring it back. We manufacture more stuff than we ever did, about 12 fold what we did in 1945. That said, we only have 1 million more workers in manufacturing than we did in 1955, around 15 million in a work force of 190 million. Such has been the power of productivity increases in the manufacturing sector. Also, such has been the enormous growth in the services and government sectors to have absorbed the population growth since then. If our exports were a separate country they would rank as the sixth or seventh largest economy. That said, entrenched unions helped to destroy the competitiveness of the US auto makers as well as bankrupt the US steel industry. You will notice that as foreign company auto manufacturing is being moved to the US, it is being moved to "right to work" states. There is still alot of free market character to the ongoing struggle between labor and capital. I agree, as it should be to have a healthy capitalist system.