Say what you will about the politics but why is the loss of a sector per se a bad thing for the economy. In an international free trade globalized economy, nations work best on the concept of comparative advantage where countries specialize and export the products they make most efficiently. Clearly we aren't the most efficient manufacturers given the world labor market. But we do lead the world in certain high tech industries and that's where we should be headed.
There is no problem with this except the politics of temporary unemployment. But the long run issue of efficiency will naturally be worked out assuming no significant trade barriers, tarriffs etc.
Would be nice if these types of discussions were held instead of pandering to certain well lobbied interests attempting to preserve the status quo or reach for the past.
This post was edited on 8/2 at 12:03 am