Bayer Corporation President and CEO Grag Babe explains in a post on The Hill's Congress Blog that we need to restore our manufacturing base in the U.S.--a song we've been singing for quite some time.

In his post, Babe references William Bernstein, an American neurologist turned investment advisor turned historian whose "four fources of industrialization" he sees as "a way to look at the decline of manufacturing here in America, where our own industrial revolution may have veered off track and how we can get it rolling again."

These four forces are as follow:

• Property rights
• Scientific rationalism
• Access to capital markets
• Transporation

Read more on Babe's thoughts about the decline of American manufacturing here.