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Manufacturing America’s New Middle Class: Henry R. Nothhaft

Given how desperately the U.S. needs jobs, it’s amazing how little effort Congress and the president devote to revitalizing manufacturing, the most potent of all job creators. For more than 30 years now, economists and policy

But the worshippers of this economic religion, built

That explains why the $30 billion trade surplus in high-

The consequences of America’s offshoring craze run far

Recovery From Recession

In the past 30 years, average real weekly wages for men in

How long will it take to regain the 8 million jobs lost in

Manufacturing is also crucial to retaining our ability to

In 1980, the U.S. produced 42 percent of the world’s semiconductors, devices Americans invented more than 50 years

This is hardly surprising when you think about it:

Americans invented the solar cell almost 60 years ago, but

The greater source of China’s almost 20 percent cost

Germany also has a robust semiconductor-manufacturing

Holidays and Grants

China and Germany aren’t the only countries that woo manufacturers while the U.S. perversely prides itself on its

Indeed, for every job it creates on the shop floor, manufacturing produces as many as 15 additional jobs elsewhere.

Simply put, manufacturing is what created an American

It’s not too late to rebuild our manufacturing sector --

-- First, let’s join the rest of the world and provide

-- To make manufacturing more attractive to investors,

-- All manufacturers should be allowed to fully expense the

-- Congress should create a permanent 20 percent R&D tax

-- President Barack Obama’s 20 percent cut in vocational school funding should be reversed, and funding should instead be doubled,

-- Finally, statutory corporate-tax rates should be reduced

For 30 years, Washington has treated manufacturing as the vestigial tail of a bygone industrial economy. It’s actually the wellspring of our future prosperity, if only we’d tap it.


(Henry R. Nothhaft is a veteran entrepreneur and the author of “Great Again: Revitalizing


This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.

    To contact the author of this story:
    Henry R Nothhaft at hank@greatagain-thebook.com

    To contact the editor responsible for this story:
    Mary Duenwald at mduenwald@bloomberg.net

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