Manufacturing in America - A Story of Global Competition

The conventional wisdom that U.S. manufacturing job loss is simply a result of productivity-driven restructuring (akin to how U.S. agriculture lost jobs but remains healthy) is fundamentally flawed. U.S. manufacturing lost jobs because manufacturing lost output; and it lost output because its ability to compete in global markets declined significantly. If the United States is to rectify this and restore U.S. manufacturing competitiveness and jobs, it must embrace a comprehensive national manufacturing strategy focusing on the "4Ts" of technology, tax, trade, and talent.