It’s really all about innovation and productivity. First, you invent it, then you make it. They both have rewards and costs. But they are clear drivers for economic growth. We’ve abdicated production from the US for several decades now. This has caused growth in those countries that do the production and now they are going into the innovation phase themselves. Thus creating more competition for the US and driving down wages for the creative class that tends to innovate. This has been going on for our production class for quite some time. It’s a kind of global leveling.
I believe the horse has long left the barn on this one.
