At Forbes, commentary by Adam Smith Institute Fellow Tim Worstall: “One of the oddities of the current political and economic scene is that all too many people are fixated on manufacturing. We should 'bring manufacturing back' or something. Quite why is very difficult to understand. There seems to be some idea that making things in huge sheds is a well paid occupation – it isn’t. Or that making things is hugely profitable for a company – it isn’t. And if it isn’t either of those things then nor is it hugely important to an economy.”
“But we do see it all around us, people screaming their heads off that manufacturing just must be supported, must come back.”
“Designing, marketing, branding things which are to be manufactured and sold is a very profitable occupation. Manufacturing the things not so much,” Worstall writes. “It’s not even true that manufacturing pays particularly better or differently than service jobs within the United States. [...] Manufacturing pays $26.00 an hour, services $25.40 an hour. Sure, 60 cents an hour is 60 cents an hour but it’s hardly an earth shaking difference, is it?”
