Comment: Wiseguy don’t ever repeat that statement again,

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In reply to comment: It can't because we have to (see in situ)

Wiseguy don’t ever repeat that statement again,

, it makes you sound ignorant.

You have fallen in to the nonsense of Keynesianism without the knowledge to refute it. Productivity through better management and invocation of automation would put output per hour on par with 50 cents an hour wages. The reason the manufacturing base has left this country is because of the perverse Pre Revolutionary War British Mercantilism system of manipulating the dollar to finance the USG debt. NO OTHER REASON PERIOD. The USG needed to have this debt financed without the natural responses of either raising interest rates or monetizing the debt, so they choose to export our inflation along with the manufacturing base. This wasn’t the plan, to export the M-base, it was an unintended consequence. It happen so gradually, they never understood it. Another unintended consequence (though not in contradiction because these are service jobs that cannot be automated) was the decimation of the low scale wage rate by allowing the free flow of low wage workers over the border, which took the purchasing power out of the average consumer’s pocket. You could not have screwed this up more if you had planned it (and no I don’t believe in conspiracies…..I believe in the corruption of everything government). But It’s just not the end manufacturing base jobs being lost, but also what Von Mises referred to as the "upper level" jobs of manufacturing. The companies that build the automation machines and equipment that the end manufacturing base jobs need in order to compete. This is what has wrecked this country…..the government put their interest ahead of the country, in order to pander for votes. All the consequence Peter is talking about in that video is a result of the root problem I just laid out……the root problem in government never ending need to grow by pilfering the pocket of the citizenry and the primary tool is………INFLATION.