Facebook may be news today, but manufacturing will matter for a long time
Rick Karlgaard has a great op-ed in today's Wall Street Journal. He says that, yes, Facebook will be the focus of news today as its stock goes public. But if you really look long-term, productive industies like manufacturing will matter far more in the 21st Century.
Karlgaard asks a great question: "Would you rather own a car, an iPad or a Facebook membership?"
It's a no-brainer. A car matters more than having something as ephemeral as a Facebook account.
That's one reason that Karlgaard is confident in a U.S. maufacturing revival:
Manufacturing? America will own the mid-21st century. Geopolitical instability and rising oil prices will wreck the late 20th-century rationale for outsourcing. Chinese labor costs are rising 20% a year while robotic costs are dropping by 30% a year. Do the math.
"Made in the USA" is set to have a major comeback. The showstopper will be 3-D printing, which makes physical objects from a digital file. It will turn our artists into artisanal manufacturers and reward American-style creativity.
It's good to hear someone praising the importance of manufacturing.
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