America doesn’t manufacture anymore?

Posted on July 3, 2010

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As if repetition makes what is false factual, then continue to repeat the myth that American manufacturing output is declining . In fact the data compiled by the Federal Reserve show that the inflation-adjusted total value of industrial output is today – despite the fact that we’re in a recession – 67 percent higher than in January 1986.

Or perhaps you wish to compare today’s manufacturing output to that of 1979 – the year prior to America’s alleged embrace of laissez-faire capitalism. You’ll discover that manufacturing output today is about 80 percent higher than in 1979. Or maybe you would prefer to compare today’s manufacturing output to that of the mid-1950s, when America was supposedly at the peak of her industrial might. If so, you will discover that the real value of today’s manufacturing output is 351% higher than in 1955.

Remember that next time someone you’re talking to tries to manufacture the myth that Americans no longer make things.

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Posted in: Economics, Economy