The Loss of American Manufacturing Jobs II: Intel's Andy Grove on 'How to Make an American Job'

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Two days after drafting my post on Jeffrey Immelt’s observations on American industry, I read Tim Duy’s superb piece on the loss of manufacturing jobs.  (Hat tip to Steve Clemons and New America Foundation’s indispensible “Views on the Global Economy: Your Daily Briefing” (July 6, 2010).)

Mr. Duy cites statistics and provides graphs illustrating the problem. His recounting of conventional wisdom on this subject is spot on. His links to a recent exchange between Yves Smith and Rajiv Sethi are also worth following.

But most interestingly, in view of Jeffrey Immelt’s Rome comments, is the three bloggers’ focus on former Intel CEO Andy Grove’s important Bloomberg.com article, “How to Make an American Job Before it's Too Late.”  Mr. Duy quotes Rajiv Sethi: 

piece is long, detailed and worth reading in full, but the central point is this:  an economy that innovates prolifically but consistently exports its jobs to lower cost overseas locations will eventually lose not only its capacity for mass production, but eventually also its capacity for innovation....  (Emphasis added.)

http://www.msci.com/insights/responsible_investing/grove_us_jobs.html