Why the USA needs to focus more on the manufacturing sector rather than service?
During 2012 Presidential election campaign, 'jobs, jobs, jobs' was one abiding rallying cry from both the candidates. With the inclination of unemployment in the US wavering around 8%, the gist was how to put people back to work. Meet Ro Khanna, a former Deputy Assistant to the US Department of Commerce under the Obama administration, who strongly advocates the fact that US manufacturing is one fundamental aspect that will promote the employment strategies and the general welfare of the country. His book, Entrepreneurial Nation: Why Manufacturing is Still A Key To America's Future, dredges into the state of manufacturing in the US at present, why is manufacturing a cornerstone of the future of the United States, and what policies the country should target for to reinforce the manufacturing sector.
Ro Khanna exemplifies his premises by using real world manufacturing case instances from his time as a Deputy Assistant.
You can purchase this book HERE.
Rohit "Ro" Khanna is an American teacher, lawyer, and politician. He served as the Deputy Assistant Secretary of the United States Department of Commerce under President Barack Obama. Khanna was a student at the University of Chicago, Yale Law School. Khanna is a member of the Democratic Party and is currently running for the United States House of Representatives in California's 17th Congressional District.
Khanna highlights his general inclination with some hard figures and facts, including this statement:
"Manufacturing is no longer as significant a share of our economy as it once was, declining from nearly 28 percent of our GDP in the late 1940s after World War II to about 11 percent. We now devote less of our GDP to manufacturing than every other industrial nation except France."
But, here's the real question, should it be? Should this aspect of 'Once upon a time, the manufacturing sector was the only crux of the nation's economy', be brought back to light and be endured for eternity? It's worth reminiscing that the country has withstood structural changes to the economy before. There was a time when agriculture predominated the economy, yet now it has been faded substantially in the form of the percentage of GDP.
On that note, Khanna introduces two remarkable economists – Robert Riech and Jagdish Bhagwati, who believe that the US should focus more on the service sector rather than manufacturing, which has become obsolescent. Khanna contradicted the statement and frames his notions in favor of manufacturing through the following premises:
The reader is taken to places like Wichita, Kansas, the Air Capital of the World, to create an instance in reader's mind of a haywire clump of manufacturing. Through this tour of manufacturing, the reader will notice how specific companies have flourished in the global marketplace and their anxieties of the future of manufacturing in the US. Each chapter in the book also showcases a policy endorsement that Khanna postulates would abet manufacturing in the US.
So many policy agendas are offered that it's unreasonable to not dodge with some specific planks, whether it's an assertion or a solution. However, avoid getting the hang of the trivialities, 'Entrepreneurial Nation' is a dauntless and a widespread vision for the future of American manufacturing and its status in the US economy. Khanna did a tremendous job of bringing forth the challenges that manufacturers confront and the triumphs they have accomplished.
Any person that is sympathetic in the state of manufacturing and the policies that govern manufacturing would be thoughtful to start with Entrepreneurial Nation: Why Manufacturing is Still Key To America's Future.
WittyFeed's Rating: 4.5 stars out of 5.