It’s depressing to hear the many politicians running for office run on about how to make America great again by bringing the industries of the industrial age back to America and away from our competitors like China and India.
There’s a simple reason why America can no longer compete in the steel industry, car industry, and textiles industries. People in other countries will work harder for less money than what our workers want to be paid.
I’m not saying that as a criticism for America workers. As an American worker, I wouldn’t want to slave at a factory for fifty cents an hour either.
My point is that if America is going to compete with the rest of the world, we need to compete from our strong points and not by bemoaning the loss of jobs in areas we can not financially compete in.
The one advantage America has over everybody else is our graduate universities. We have the smartest physics, chemistry and engineering faculties in the world. Other countries send their brightest students here because we give them the best educational options anywhere.
Instead of bemoaning what happened to our superiority in our factories from 75 years ago we need to compete in what we’re best it. Brain power.
If we were to simply double the amount of money we spend on Research and Development we would put our economy in a position to lead the rest of the world for many decades to come.