An Industrial Plan for America
Americans have been aware for decades that their nation is in the midst of serious industrial decline. This decline, represented by the loss of some 7.5 million jobs between 1980 and 2017, has affected Americans, and particularly men, more than any other group.
The Bureau of Labor Statistics has found that for every 10 percentage point drop in regional manufacturing share there is an accompanying 3.7% drop in male employment.
Policymakers must consider the following options if they seek to generate prosperity for Americans:
1. Local content requirements
The surest way to ensure that products purchased by Americans are produced by Americans is to ensure that those products have their component parts sourced in the United States.
American policymakers must institute a 51% local content requirement for any goods which are related to: transportation, technology, energy (production & transmission), national security, food production, and other forms of critical infrastructure.
2. Provide financing for new firms
A 2014 study by MIT found that while venture capital is willing, even eager, to fund the initial stages of development those same VC firms are near universally unwilling to fund the scale-up of manufacturing capacity. This results in firms founded by innovative young Americans to look abroad to scale their manufacturing processes.
3 ...
Read the full piece, and the rest of the policy prescriptions here on our Substack:
Americans have been aware for decades that their nation is in the midst of serious industrial decline. This decline, represented by the loss of some 7.5 million jobs between 1980 and 2017, has affected Americans, and particularly men, more than any other group.
The Bureau of Labor Statistics has found that for every 10 percentage point drop in regional manufacturing share there is an accompanying 3.7% drop in male employment.
Policymakers must consider the following options if they seek to generate prosperity for Americans:
1. Local content requirements
The surest way to ensure that products purchased by Americans are produced by Americans is to ensure that those products have their component parts sourced in the United States.
American policymakers must institute a 51% local content requirement for any goods which are related to: transportation, technology, energy (production & transmission), national security, food production, and other forms of critical infrastructure.
2. Provide financing for new firms
A 2014 study by MIT found that while venture capital is willing, even eager, to fund the initial stages of development those same VC firms are near universally unwilling to fund the scale-up of manufacturing capacity. This results in firms founded by innovative young Americans to look abroad to scale their manufacturing processes.
3 ...
Read the full piece, and the rest of the policy prescriptions here on our Substack: