General Discussion
In reply to the discussion: A two-income family today is poorer than a one-income family was in the 1970s [View all]Egalitarian Thug
(12,448 posts)There are so many elements to it that most people just fall asleep or walk away thinking they just don't/can't understand it.
Yes we do still manufacture some things here, but it's a small fraction of what we did, but then you'll hear about how we export a comparable amount to what we did, even though the trade deficit constantly grows. The thing is that today we are exporting raw materials to other nations where the real value is added by turning them into something, whereas that value used to be added here. The real money is in the added value of manufacture, not the raw materials, and that's one of the reasons our manufacturing base was shipped to China and now they're kicking our asses.
The timber-to-lumber industry is a good example, if you are interested. It's a pretty straightforward example and lots of information is easy to find.