Now, companies that want to make things here often have trouble finding qualified workers for specialized jobs and American-made components for their products. And politicians’ promises that American manufacturing means an abundance of new jobs is complicated — yes, it means jobs, but on nowhere near the scale there was before, because machines have replaced humans at almost every point in the production process.
Take Parkdale: The mill here produces 2.5 million pounds of yarn a week with about 140 workers. In 1980, that production level would have required more than 2,000 people.
blogging my (mis)adventures in China between and during bouts of jetlag peppered with random thoughts on investing, strategy and development
Saturday, September 21, 2013
China isn't the biggest threat to American/Canadian Labour
It's (the lack of) productivity (NYT via Instapundit):
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