Exactly this - people who talk about how "we outsourced manufacturing to China" are missing the point. We *outlawed* manufacturing through a thousand cuts each of which has broad vague support. On-shoring has nothing to do with China and everything to do with unwinding thathttps://twitter.com/balajis/status/1251945821496467456 …
Is that right? What are the cuts? - lack of suitable healthcare system - ? - ? What prevents a textile industry here besides the cost of labor?
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"Cost of labor" assumes that wages are unrelated to productivity. Either microecon is wrong or higher wage employees are more productive so employee wages should never be a factor for a profit maximizing business.
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American labor is less productive and higher cost than Asian labor for manufacturing. I don’t care what Econ “says”. You’re not addressing my question.
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