Want a Manufacturing Renaissance? Here’s How

Over on the Of Two Minds blog, Charles Hugh Smith expounds on the death of manufacturing in America and how to restore it:


. . .

The U.S. culture is enamoured with "clean" "industries" like the FIRE sectors: finance, insurance and real estate. Americans love having a clean business park filled with workers performing transactional churn which produces nothing but magically makes money. The houses being sold aren’t improved or modified in any way, the mortgage churn, the policy churn, the CDO churn and the stock, bond and derivative "portfolio hedging" churn all generate nice clean money which flows into the clean fast-food chain restaurants and strip malls which arise around the business parks.

All that "clean" transactional churn is the root cause of the American economy’s devolution and impending implosion. America is also enamoured with film-making (clean!) and the music "industry" (clean!). Unfortunately, all these "clean" "industries" are precisely the ones being irrevocably gutted and dismembered by that other "clean" "industry", the Internet.

. . .

Good stuff – highly recommended !

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