This might be part of the problem :
1. The world’s largest taxi company (#Uber) owns no taxis
2. The world’s largest accommodation provider (Airbnb) owns no real estate
3. The largest communications companies (Skype, WhatsApp, Facebook Messenger, Viber) own no infrastructure
4. The world’s most valuable retailer (Alibaba) has no inventory
5. The most popular media platform (Facebook) creates no content
6. The fastest-growing banks actually have no money
7. The world’s largest movie house (Netflix) owns no cinemas
8. The largest software vendors don’t write the apps (Apple, Google, Facebook)
There will be no renaissance of manufacturing in the United States.
The notion that the US is going to rebuild all those factories is tremendously dishonest.
Manufacturing works in a simple way, capital substitutes for labour at the margin – and the more capital you have the less labour you need. Look at German company Mittalstad : output is going up whereas employment is going down.
We live in a world where 10% of the global population could produce complete abundance for the rest. This means that we have an institutional problem, and a political problem dealing with that fact, but the global economy doesn’t have a problem about where we are going to make stuff in factories.
Donald J. Trump & Hillary Clinton, as well as Nigel Farage & Boris Johnson were dishonest about what they said regarding Manufacturing.
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