I don't see manufacturing returning to the U.S. ｜Professor Richard Wolff

[@jasoncummings7052]

Finally someone with intelligence on this topic. Just look at Europe and learn. Why are manufacturing leaving Europe, particularly Germany? Because the energy cost are too high to be competitive thanks to their benevolent ally the United States. America has not shown how domestic manufacturing will be competitive against China. America has not shown how domestic manufacturing will close the huge gap on raw materials to level as China. America has not shown how domestic manufacturing will be able to sell to China or BRICS with ongoing trade war. All America has is anti-China propaganda rhetoric, pointless flag waving MAGA mantra and sanctions. America talks. China builds.

[@arthurlincoln9093]

China builds debt and is now printing money and paying workers who still have jobs more them spending. For the rest, unemployment beckons as foreign firms leave China, factories close and youth graduates are forced to make do with delivery jobs or lay flat. The CCP cannot persuade markets that cow is horse, even as they try to restrict selling on their stock markets, something that would never happen on Wall Street.

[@kohinoorchowdhury5682]

Excellent reaserch worked by a educated scholer.

[@BOZ_11]

BS, energy costs only became high because America sabotaged the Nord Stream pipeline, opening up the European market to Yankee energy exports

[@1tr4phouse]

Your obviously a China bot but let me explain, we’ve had a great relationship with China until 3 things happened, human rights violations, espionage against the USA, & the cherry on top supporting war on Taiwan & Russia invasion of Ukraine. Because of this the US is simply going to take its business elsewhere whether it be other countries or domestic. Chinas fault

[@theprophet489]

Never going to happen just as you grow older and your life changes so to is the world keep dreaming 😂😂😂

[@GregALang]

Having grown up in Pittsburgh during the decline of the Steel industry and Westinghouse Electric, I can tell you that the infrastructure for those manufacturing jobs no longer exists. Homestead Works, once the largest steel producing plant in the world, is now a waterslide park and a shopping mall. Even if we did bring back manufacturing here, it would mean building from the ground up and the cost would be enormous. I just don't see it happening.

[@Cloudchopper-x1r]

That goes for most other manufacturing plants as well. And with todays "green" regulations it would take years to just get off the ground.

[@Bill-g7d]

@@Cloudchopper-x1r And what happens if they don’t continuing decline. So either you have to count on them for your quality of living to improve or you have to depend on yourself.

[@andrew69novak]

Exactly true!!! All my life my boss and coworkers warned of my job going to China. "It's capitalism..." Now we are expected to believe the Chinese had the influence, not the capitalists or our own government.

[@jglg7238]

u,s amurica are in denial, and keep scapegoating it's China fault, when it's not.

[@thorin1045]

china had influence. they did not made it harder for the investments to go to china. they did not threatened you with democracy delivered by a b-2 if not behaved.

[@Bill-g7d]

But why did they go to China and other countries, when not to many decades ago everything was made in the U.S.A?

[@SunitaSingh-u2m]

@@Bill-g7d Inflation. Capitalism and inflation goes hand in hand. Also, the US manufacturing companies in China for example, has CHEAP LABOUR in China - no unions, which maximises the US companies profit$. Manufacturing cars in the US is expensive as it is and will get even more expensive because of unions. Big US corporations are trying to ban unions because it is bad for them and good for you because unions make sure you get a good pay. Good question.

[@richardkuntz3746]

well actually the Chinese did have the influence ---- they offered clinton a dollar he brought the Chinese into the scene because of cheap labor and then we got walmart and the closing of mom and pops groceries gas stations and the like which put a end to students wanting summer jobs

[@picandvideo]

the government supposed to invest in infrastructure allowing domestic manufacturing to be competive. instead of building military bases around the world. that strategy is out dated.

[@1tr4phouse]

You have 0 idea what your talking about, the Us passed an infrastructure bill years ago, & countries let us have military bases because they trust us. Idk what your trying to prove, you’re probably a China bot

[@Bill-g7d]

True, but ended when NAFTA passed and China was allowed to join the WTO.

[@mkedan6741]

I lived through all of this working in US manufacturing for the last 42 years in the rust belt(Milwaukee). The situation when I started was the facilities were getting old and there wasn't the money to invest in new plants. Then businesses started moving to southern states for cheaper labor and insentives. Then they started moving to Mexico and finally to Asia, mostly China. I don't understand blaming it on China. These moves were made by US free traders, nothing to do with the working class or China.

[@Falcon2609]

Facts

[@arnoldroquerre6912]

@@mkedan6741 An acquaintance of mine owned a nut and bolt factory in the US, which he had to shut down. Why? The government rules and regulations, salary and work benefits, environmental regulations, and costs could not compete against Chinese factories under no such constraints. The federal government made no effort to keep prices competitive, allowing Chinese products to undersell US-made products. The US consumer could care less, including union workers who bought the cheaper products screwing over union companies. Why does Wolff ignore this? Is he okay with the CCP polluting the planet, exploiting labor, and poisoning their people, and American consumers rewarding China by buying cheaper products?

[@baili-s9i]

@@arnoldroquerre6912 The CCP has not polluted the earth. China is the best country in the world in protecting the environment. Exploiting labor and poisoning people are all lies. You are deceived by lies all day long. Reality will tell you the cruel truth.

[@baili-s9i]

@@arnoldroquerre6912 Where companies produce and what products people buy are their own choices, and they will make the most correct choices.

[@EricLurie-n7]

Hit 220k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 34k in November 2024.,

[@KimKelley-u4s]

I would really like to know how much work you did put in to get to this level

[@EricLurie-n7]

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small Investment, thank you Jihan Wu you're such a life saver

[@HollyGarwell]

As a beginner in this, it’s essential for you to have a mentor to keep you accountable. Jihan Wu is also my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@JeremyBilbrey]

Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's

[@RichardArthurBaker]

His guidance allowed me to restructure my retirement plan, resulting in an estimated $700,000 more by the time I retire.

[@wuhui]

Always good to hear from Prof Wolff

[@Bill-g7d]

And has it saved you from inflation and each worsening recession?

[@bdliaw3230]

The companies decide where they manufacture their products , not politicians, neither the Chinese government ! The Professor is absolutely correct !

[@CarlGerhardt1]

Now, hopefully, Americans will decide what's best for average Americans, and not treasonous corporations and their stooge political puppets.

[@Bill-g7d]

Of course the politicians decided where manufacturers were gong to make their products. When they passed NAFTA and allow China to join the WTO. Like one politician said before they passed, “Remember one thing when these pass. You’re gong to hear a giant sucking sound and that will be manufacturing and the good paying jobs with them leaving the country. And thats exactly what happened. Why do you think, since the then our manufacturing and infrastructure has been deteriorating? .. Bad luck.

[@aurelia5614]

How capitalism works, even semi-regulated capitalism.

[@willemdezeeuw5918]

The British have an expression; "It take 3 generations to make a gentleman." The same for scientists, craftsmen, industrie and it's support chain to get highly developed.

[@Cloudchopper-x1r]

It also takes three generations to become selfish morons and we have achieved that with morons in our leadership and the masses below who hang on to one or the other moron waiting for goodies to be delivered to them.

[@user-pr1ll1zy4n]

Moving manufacturing out was also an answer to the power of unions.

[@conniegrant939]

And civil rights also

[@jrkr7357]

Let's say if product A leaves China and returns to be manufactured in US, the price of product A will be at least 3 times more expensive ......

[@johnno2377]

It started with the export of dirty industries that polluted the rivers and air. The USA now has a much cleaner environment but that is too often overlooked. That those industries discovered massive profit to be made started the headlong rush to dump well paid workers for cheap labor and a handful of well paid supervisors. Shareholders were cheerful and the money rolled in whilst the now out of work were left to pick up the pieces and told that they should re-educate themselves to find alternative work. Sounds good on paper but the reality is otherwise. No matter how much education you have if there is no where to work then simply there is no work.

[@Xx-po1fu]

It had more to do with companies wanting to maximize their profits

[@SunitaSingh-u2m]

Check my post above .... just my little sense.

[@phongy45]

""I don't see manufacturing returning to the U.S."" me too !!

[@CarlGerhardt1]

You mean, you HOPE manufacturing doesn't return to the U.S.

[@lenroddis5933]

@@CarlGerhardt1 Why do you say that?

[@mtljbc6568]

​@@CarlGerhardt1will se who is right in this in 4 years

[@Falcon2609]

​@@mtljbc6568Lol, manufacturing is never coming back. Keep dreaming, that Trump will bring it back, lol

[@Dept246]

@@lenroddis5933USA per capita is $80,000. The USA is a service economy with high paying jobs such as lawyers, doctors, accountants, bankers, computer professionals. The USA can simply import goods at cheap prices from 3rd world countries.

[@annettajensen6751]

Tariffs are just more taxes paid by the consumer! People need to wake up to that fact.

[@1tr4phouse]

Don’t worry Mexico, Canada, & eu will give us deals because they are our allies, therefore tariffs on China won’t matter, at that point us companies will begin to move out of China & go to Vietnam, India, Bangladesh, Philippines. You know countries who play fair

[@铁子-x2g]

@@1tr4phouse What do you mean by "play fair"?

[@铁子-x2g]

@@1tr4phouse It is not easy as you said. Many Chinese companies did move to these countries. However, these countries can't just simply replace China as China controls the supply chains, good infrastructure and low energy costs.

[@davidlaw9686]

Many still can't see it and argue against the fact.

[@davidlaw9686]

​@@1tr4phouse Haha, they did, but wanted to go back. What's wrong?

[@robertburnett6348]

Yes. China didn't "steal" anything.

[@brianliew5901]

China inherited everything as the Bible prophecized. Amen.😂😂😂😂

[@biggerminds523]

The cost of employees are very high in US , and the people are actually stupid and bad workers. And the richest moved most of the manufacturing to lower cost countries with educated people.

[@louise_rose]

Already in the song "Union Sundown" (on Infidels, 1983) Bob Dylan made a sharp.-tongued and very funny rundown of the decay of ManInd in the US and the move overseas - it was clearly visible already then, forty years ago. He mentions a couple of different countries, but I think it was clear already in the eighties that China was destined to become a big "global factory nation", although not the only one.

[@Cloudchopper-x1r]

Our school system in the last 50 years has made people stupid on purpose.. It did not used to be that way. today's college students can't even pass elementary school tests from 100 or more years ago.

[@Bill-g7d]

Tey were forced to move because of the policies that were passed in the late nineties. Which gave most of them two choices move or close. I know this was a fact because I watched it happen.

[@aurelia5614]

Absolutely untrue.

[@Lavabug]

The cost of living and basic necessities in the US is also very high and continues to outpace wages, should US workers accept a lower standard of living?

[@michaelchua3942]

It will take years to bring back manufacturing to the US if ever, more likely political rhetoric

[@1tr4phouse]

It’s already coming back dude, we have the chips act, inflation reduction act, & infrastructure bill. All bringing manufacturing back to the us for technology & green energy. The bills have already been passed.

[@Vhlathanosh]

​@@1tr4phouse it won't. They can manufacture cheap in China, why would they move to the US?

[@Cloudchopper-x1r]

@@1tr4phouse Either you re sarcastic or totally delusional.

[@jglg7238]

@@1tr4phouse no, it's more than that.

[@thorin1045]

@@1tr4phouse bills are passed, manufacturing does not happen. you can spend money and make demands, but non existing mines will not provide ores. non existing refineries does not provide refined metals and other stuff. non existing workers cannot work in those plants. it took forty years to arrive this state, it won't reverse in two weeks, nor in two years. if you are lucky, it may be reversed in two decades. can you point any policy in the usa that was maintained for that long and not subverted by the next president?

[@AIPretendingToBeHuman]

Not just manufacturing jobs - service roles such as back office and software development have been and are being outsourced for decades. The term is “global talent”

[@CarlGerhardt1]

The term is 'destroy the American middle class'.

[@siewkonsum7291]

The cost of manufacturing is way too high in the US. Impossible to produce efficiently at low-cost and sell! 😮

[@1tr4phouse]

That’s why we are also bringing it to Vietnam, India, Bangladesh, Philippines, & other countries that play fair unlike china

[@jglg7238]

@@1tr4phouse play fair? get your facts right. u,s amurica is just in decline and can't face the music, so they scapegoating China in everything. Don't blame China, blame your own country and it's system.

[@1tr4phouse]

@@jglg7238 we’re doing just fine pal, hopefully China doesn’t start another war like the “war monger” USA plus there 2 billion people below China just waiting for China to make a move

[@rogerbrown3520]

Perhaps. Perhaps not. Is it not the fact, that extreme wealthy manufacturers moved to China was, ONLY to increase their now immense weather and stocks high for their shareholders WHO SUPPORT THEM? The owners and shareholders DO NOT CARE about the American people. It's all about money and profits, stupid. Does anyone know the wages in China? The minimum wage, yet in America is in the low teens. $15 per hour in rich, Alberta, Canada. And this government gives yet, billions to oil companies and all who hold their hands out. It is corruption and lies at its highest. Shame on them.

[@rogerbrown3520]

​@1tr4phouse Wake up people. Elected officials and owners plus shareholders, DO NOT CARE ABOUT THE AMERICAN OR CANADIAN PEOPLE I am 70. I sit here laughing at the insanity. American and Canadoan workers, were sold out years ago. What did the poor American voter do? Voted in rich politicians. They will own nothing nothing when America collaspes, and they are bailed out, with conditions. Welcome to 2025.

[@000T00b]

It is astounding that American politicians (and their voters) simply do not understand how capitalism and the free market works, and what its effects are. Profit-maximising capitalists all around the world will always seek to grow margins by offsetting low, stagnant or declining input costs (of labour, raw materials, fuels and energy, infrastructure, etc) against growing sales revenues. This is a fundamental part of capitalism. If there is no profit (or insufficient margin) in any business venture, it will simply not be produced/provided. Capitalists are, after all, not in business to provide charity to anyone.

[@1tr4phouse]

We have had 3 bills (infrastructure bill, chips science act, inflation reduction act) all to incentivize & subsidize domestic infrastructure in green energy & technology. Plus we can leave China & go to countries that play fair like Vietnam, India, Philippines, Bangladesh plenty of other countries to go to

[@Vhlathanosh]

​@@1tr4phousemate, you really need to read and understand what's being said, and also think.

[@sameasme2]

The politicians understand it perfectly and one political party counts on the voters to have little to no understanding. It's a winning formula more times than not.

[@1tr4phouse]

@@000T00b the socialist are trying to tell the capitalist how capitalism works😂

[@jgsk78]

If anybody understands how capitalism works it's American politicians

[@michael511128]

Nothing to worry about, when the wages in the US is below that of China, Brazil or Vietnam, manufacturing will naturally come back to the US.

[@sammycalamia2813]

Bingo!

[@markhuston9250]

Other than the fact there will be no US - your forecast could be right. The US is dead.

[@blumaxx1]

No Sound Minded business person would invest 200 million dollars Or more 😢in a factory in America and only produce 10 million dollars worth of products😢

[@Falcon2609]

Exactly

[@raymondg5643]

My plumber from Roto Rooter charges $250 for installing a standard faucet. The cost is only for labor. Now, consider moving the manufacturing back, you can imagine the explosion of inflation.

[@Falcon2609]

💯

[@SimmerFerdon221]

I don't know who needs to hear this, you've got to stop saving money. Invest some part of it, if you really want financial freedom.

[@DavidAnthony6559]

Invest in bitcoin, gold, silver, buy stock, forex market, commodities. Just invest and save yourself.

[@MaxineWilliam6513]

Good talk, I tell my friends everyday. It's good to save money but gotta have that investing spirit if you really want financial freedom

[@MarkeeAllenHudson6988]

What if you don't know how to trade any of these? I mean, I see your point. Some people have the money and are willing to invest. But the problem is where to.

[@YoungWillow36]

Hey dude, this is 2025. People who aren't even traders make money from the crypto and forex markets and moreover there are already financial analysts and trading experts(PhDs) who have shelled out theories and ideas for years on how bit coin technically grows

[@AlexaJazmin-t5o]

Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $75k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.

[@jmg8246]

As a material handling engineer in the NYC Metro area for almost 30 years. I can assure you cheap labor is not the only reason for companies outsources to other parts of the world, a good number of companies have to move because the value of real estate underneath them skyrocketed. Before 2000 over 50% of my clients are in the manufacturing business and now 0%.

[@tomastorres7475]

Thanks for the analysis and explanation Profesor Wolff.

[@SunitaSingh-u2m]

So many weapons in the US, they ended up shooting itself in the foot - and other hand.

[@craiglarge5925]

The downfall in manufacturing stated in the early 1970s. Why ? Unions, government regulations, cutting corners, corporate greed, etc. I remember as a kid back in 1971 and seeing a Datsun 240z for the first time and it really caught my eye. In 1972 Marantz stereo equipment started to be made in Japan.

[@verdeaqua3990]

Right on ! After all 65% of consumers are in Asia and BRICS countries !

[@Julius-AK]

US can't reindustrialize as long as the USD is the world's reserve currency. You need a devalued currency to make your exports competitive but your currency is strong since there is constant demand for it since it is the reserve currency. Other thing is the fact that the rentier and monopoly capitalists make US a high cost economy. Employers have to pay high wages for their workers because the workers have to pay so much for health care, student debts, medicine, mortgage debt payments etc. If you make natural monopolies public, money/debt creation and banks into public hands and have public cheap or free health care, education etc. then employers could pay lower wages to workers making the economy competitive again. Cancelling the debts is the solution, however this would require a political revolution in the U.S.

[@carlaburgers3088]

Well the Us $ is just hanging on as the world's reserve currency, more and more countries joining BRICS.

[@ScoobyDoo-jk5fn]

USD will remain as one of the reserve currencies of all countries. The problems currently facing US are multifaceted. On the government side the tax revenue is used not to build and upgrade infrastructures but to finance wars and coups in other countries to the benefit of a few people in the armament and oil industries. On the corporate side, CEOs of companies are judged quarterly based on the profits they made or else they get fired. Overall cost of producing one piece of goods is rising because of the unions demanding wage increase or they go on strike. For the CEOs, in order to stay in their positions they have to seek alternatives place to reduce costs (back then the popular word was OEM).This is the problem of invisible hand (pure market economy) and deep state (all interlink). One of the solution I can think of is that US has to closed most of its 800 military bases around the world and used the money to build infrastructures. After that devaluation of USD maybe considered.

[@fannyalbi9040]

Here the inherent connundrum

[@mutumagitonga]

Well put

[@jgsk78]

Very correct, except this goes against the core values of individualism and freedom and free market etc, everything America is built on and these have been so hyped up and so efficiently marketed that if you mention any common good and you're labeled a communist and even the people that suffer in this system the most, the ordinary workers will attack you, ready to defend 'freedom'. ... It's so deeply rooted that even though majority doesn't benefit from the economic system , they're ready to fight for it. Currently I don't see anybody bringing ideas of commonly owned nationalised production assets being treated like anything other than a terrorist.. this kind of thinking will not change untill majority sees do majorities in other parts of the world do significantly better. That's the only way that can crack open possibilities of different way thinking and to accepting different ideas

[@conybrown991]

30 years ago everyone said only poor undeveloped countries would do the manufacturing, how come it became so important suddenly to the US?

[@thoraero]

Yeah 15 years ago when I was in grad school, everyone hailed the success of developed countries moving away from manufacturing to "service industry". I guess those professors and books were all bs 😂

[@cloudcyan-s6o]

农业和制造业才是一个国家的经济基石，过高的服务业（金融、保险等）GDP占比只能带来虚假的繁荣和经济泡沫。就如同现在的美国，深陷通货膨胀危机但没有任何办法解决，服务业解决不了任何国家问题

[@Marco-zt6fz]

Richard Wolff is 100% right. The factories no longer go back to the US. The employees simply cost too much. In addition, China and other countries have many more people who can employ them. The same is also in the EU companies that have gone, they will not come back. The tariffs harm only the own countrie the same mistake makes also the EU. The West ist simple the loser. Africa is also on the upswing, in the next 10 to 15 years Africa will also become an economic powerhouse.

[@Jay-ro1qc]

Never. Africa is a whole continent none of them get along

[@sweetaznspice1]

I want to agree with your assessment in regards to Africa, but I just don't see how any nation in Africa can become an "economic powerhouse". Most definitely a good percentage will be lifted out of poverty, but it's going to take a lot longer than 15 years to do so. If you look at it objectively, the majority of Africans don't have the prerequisite educational levels nor the industriousness that East Asians possess like the Chinese, Koreans and Japanese among a few others. Regardless, I can see that a few will become solid middle income economies within that time frame.

[@azizulaziz6120]

My friend used to work with a factory from Japan.. When China made the same product, but much cheaper, the factory was a little shaky. Japan said there was no need to worry, because their quality was better. Within 2 years, China could match their quality .. Finally in 4 years the Japanese factory had to be closed.. Why? Because China can produce products of the same quality but the price is much cheaper.. America has thought about that?

[@thespartan8476]

What people don't realise is that during the decades after WW2 Western Europe offered a good life to the average citizen BECAUSE of communism in Eastern Europe. Communists introduced free education and free healthcare for all, and the dignity of the workers grew immensely. Western European ruling classes were terrified of the revolution spreading into their countries. So they made sure that their people not only got what people had in socialist countries but even more than that. That wasn't because the ruling classes became less selfish, but because they were scared. And the moment communism was defeated in Europe, the process of rolling back the rights and material assets began.

[@cedriclynch]

You cannot be competitive in manufacturing if the cheapest house or apartment costs hundreds of thousands of dollars to buy or thousands of dollars per month to rent. You have to pay the workers enough to keep roofs over their heads, and with these roofs being so expensive you cannot make your product at the price it costs from countries where housing is cheaper. However the media in some countries cheer on the continuing increase in the cost of housing as if it is the best thing that has ever happened.

[@CarlGerhardt1]

How much do YOU get paid every week. I think YOU'RE 'too expensive'.

[@Cloudchopper-x1r]

That's the recurring problem of inflation in the USA. No one has ever enough for anything so everything goes up and up creating inflation to the point where no one can afford anything any more except for the ultra rich.

[@johnlance-bu6jj]

Me thinks that young people here in the us look at how their parents were nothing more than slave labor , down on the plantation , and they refuse to be slaves like them . , There is an old Chinese saying , " If you are happy with the crumbs from the rich mans table , crouch low and lick the hand that feeds you ". Young people refuse to lick the hand of the slave owners .

[@wwbren]

Can you put the saying in Chinese? I have never heard of it before.

[@KurniaLim]

Nowadays some workers can be replaced by robots, the biggest problem for the US is the supply chains.

[@louise_rose]

I said some years ago, half jestingly, that the future might see the return of slave labour in some sectors because those sectors have become impossible to run on a profitable basis under the classic wage labour company model.

[@landerrussell2100]

Here's a problem: Industrial robots also need to be built and maintained When all raw materials in the US are more expensive than finished products in other countries, manufacturing will never come back to the US, never

[@KurniaLim]

@landerrussell2100 well, you can build or secure supply chains locally but it will take times maybe a decade, then start to manufacture back. But I don't think it's visible for the US.

[@hubreydavid7864]

True with only 250 million people who are going to buy the products from America . Capitalism is only making money for the rich.

[@davidgordon9610]

Four reasons it ain't going back : (1) David Recardo's economic "Law of Comparative Advantage" (2) Global Labour Arbitrage (3) Transfer Pricing (4) Tax Havens

[@AugustusOmega]

except for super competent android break throughs, labor for the cost of electricity

[@deezeed2817]

Also the fact that manufacturing is becoming more efficient and there's less need for human labor.

[@araara4746]

@@AugustusOmega Then the union strike.

[@AugustusOmega]

@@araara4746 We can figure out the distribution of resources later, the main thing is that the work is getting done and that we humans are NOT doing the work..all else can be resolved quickly.

[@davidgordon9610]

@ China learned from the mistakes of other economies development paths. Before wages rose in China to a level where they undermined China's cost advantage, China swiftly began transitioning to industrial robots. They now have more than every other natiion on earth, combined.

[@bjarterundereim3038]

Mr. Woff, I, being a European, still agree with all that you say about the demolition of American production through the last decades. However, there is one important factor that passes unsung in your narrative: The Production competence. Wages aside, it would take decades to restore production competence and infrastructure in the USA. Modern production is a network of finance, technology and hands and minds to do what machines still either cannot - or are too expensive to perform. Then there are the factors of aqusition of suitable raw materials, infrastructure and marketing. None of this can be up and running in a day. Then there is the very real problem of educated workers and engineers. Musk has to import then i droves to get his projects done. These do not grow on trees.

[@Lavabug]

Musk doesn't *have* to import engineers, there are plenty in the US. They just aren't willing to do it for below industry average wages or working for free on weekends. The "panic" over a shortage of skilled labor is entirely a private sector ploy to depress wages by increasing the supply of workers. The IEEE reported on this years ago about the "need" for more engineering graduates, resulting in a glut of them and massive competition for entry level jobs resulting in wage stagnation. Now Musk, Trump, and Vivek want more H1B visas to import and underpay engineers. Just the usual capitalist racketeering to get labor for as cheap as possible.

[@esskay8768]

Spot On Prof. Wolff!👍

[@jamielliott2301]

I find it interesting...the disconnect between the people in this country that are the most ardent supporters of capitalism AND the greatest critics of the outsourcing of manufacturing jobs. People want inexpensive products...we simply can't (and won't) make them here (the very same folks would complain about the high cost of goods if we even tried)

[@CarlGerhardt1]

I want to stuff my face with cake and ice cream and still lose weight.

[@justmyopinion9883]

Thank you for sharing your knowledge, Professor Wolff. I always learn something new from you.

[@SunitaSingh-u2m]

Professor Wolff, "Unites States has a problem with inflation." Professor Wolff should have said is that CAPITALISM is not without inflation.

[@KennyL1]

The key job of managers of companies in capitalism is to maximise profits for shareholders. In the 80s and 90s companies moved manufacturing to China to reduce production costs to improve profit margins. In the later part of the 20th century, many American companies like Walmart outsourced production to Chinese companies. They no longer invest into production at all. They had achieved the ultimate capitalist accounting dream of totally converting fixed capital costs into variable costs. There is no longer the need to make upfront capital investments in production capacity. This was taken care of by the Chinese companies. The American capitalist managers had done a brilliant job. Isn't this what Wall Street wanted?

[@elblee]

The US leadership forcing the Taiwanese to manufacture chips in Arizona will not last. The recipe for the return of manufacturing in the US if American workers willingly accept the low wages and that is impossible to happen.

[@Dept246]

Those chip factories in Arizona will never make money and will need to be subsidized by the US government.

[@johnno2377]

If the US gov over the last 20 years were serious they would have the most modern and well developed industrial base in the world. However they never invested and simply used countless billions of tax payers money to bail out the banks the mortgage companies the auto industry the airlines and more recently gave billions to intel who are now struggling so where did that money go ? From the tax payer direct to the shareholders ?????? Politicians work for their personal gain 99% of the time and once elected spend their time gathering funds ready for the next round to hold onto their seats of power. The amounts of money in the billions wasted over the last 20 years whilst the people queue at food banks or cannot afford the rent and are made homeless boggles my mind.

[@kuan-k4m]

😮‍💨😮‍💨😮‍💨😮‍💨😮‍💨😮‍💨

[@suzannesnyder9212]

Nobody wants nothing to do with this country i will leave myself like many others

[@ПИЦКВлад]

❤❤Prof. Wolff, looks like the only proven way we can get ahead is to scapegoat others who we believe is threatening our hegemony. So far it’s bought us time to squander more of our resources, what can possibly go wrong.⁉️🇺🇸🇺🇸

[@jagriv5659]

There are people that loves to work, others that work to get paid, and some others that are always disgruntled when working, right here in the good old US of A. This is the number one reason why jobs are shipped overseas.

[@sktan3743]

It will be a miracle if industry returns to US. Who is going to pay for high prices when the rest of the field is selling cheaper.

[@johntan9151]

It all boils down to productivity, competitiveness and ingenuity. China has leaped frog over all western countries. Trump has only one counter act. Increase tariffs! That’s a self inflicting wound! Canada and Mexico will have to change their economic policies towards China in order to avoid being dragged down by US.

[@nanhinting7447]

All companies want is to make money with the cheapest labor! Unfortunately US is far from the list!

[@earthwitch61]

Thank You Professor!

[@voonjanted5043]

The decision to move manufacturing industries outside the US is made by the US corporate leaders themselves, there is no reason to put the blame on China or other countries, now that they want the manufacturing industries to come back is very very difficult!

[@mervynsoo8353]

With Elon Musk in the picture I see Trump being China friendly

[@Cloudchopper-x1r]

He already changed his tune from China being an adversary to making friends and producing together. That won't sit well with one branch of MAGA - the Christian nationalist Evangelicals. they are already upset with too much religious Hinduism coming into America.

[@edwardlaw797]

Elon is sly making money in both places

[@stephenho5272]

The hegemony of the Dollar had artificially tilted the playing field in favour of the US for the past 50+ years. Now that a multipolar world is emerging and leveling the playing field, the US and Americans are ill-prepared and uncompetitive in this new reality. I don’t feel sorry for them.

[@barnabusdoyle4930]

It’s not about labor costs, it’s about skilled labor and supply chains. The US has no ability to compete with China, especially after the US handed the Russian raw material industry to China.

[@Tewbum]

There is not a snowball chance in hell that manufacturers will come back to the USA, period, GREED won't allow it

[@PL-lt3wz]

Costs of production would be prohibitively high in US, making it unfeasible. Who wants to buy products from US, when other nations can offer cheaper prices for the same things? Can't solve problems with ways that helped to create them.

[@GlobalDrifter1000]

Global competition means low wages, no unions and pollution. The stuff you don’t wanna buy. pay more for stuff that’s made under decent conditions with fair wages, and minimum pollution. We Americans are all in this together.

[@pradyumnanayak9844]

Now on ,it is the time for Asian Dream. Amen.

[@asdfasdffdcd]

So true. Manufacturing can be anywhere except inside US.

[@belladonnatook8851]

Drives me crazy. I don't understand how the US can be so *_consistently_* short-sighted. 😢

[@Merdacity]

That is because you are too focussed on killing people in other countries rather than building a peaceful world through honest trade

[@SunitaSingh-u2m]

If manufacturing / factories do come back, the products they produce will be very expensive - materials, labour, advertising, etc. will cause the product to be expensive. Professor Wolff, "Unites States has a problem with inflation." Professor Wolff should have said is that CAPITALISM is not without inflation.

[@AngeloWilliams-b5y]

Value in relative terms to other currencies is not doing the dollar any favour's You produce at a high level currency trying to sell into a lower value currency it's gonna hurt your bottomline

[@CarlGerhardt1]

Absolutely! Time for a dollar devaluation move.

[@AngeloWilliams-b5y]

@CarlGerhardt1 biggest problem the US faces with devaluation of the dollar is that it will make it near impossible for them to repay debt already incurred and it would be highly unpopular with the general population

[@HangLi-f3y]

Another point: we have so many lawyers, while China trained many more engineers.

[@jmg8246]

Patriotic can only take you so far. At end of day it's about how much of the almighty dollar one can keep in their own pocket.

[@ann0ynim0us]

unless USD devalues by 200%, keep dreaming about returning to industrialization age.

[@mlalonde4104]

Fully agree. I was studying business at that time. This wasxan American strategy!!

[@Nieosoba]

That's true its a contradiction or conflict between those who want to keep military dominance (its not really economic nationalism) and those who want to earn money on global trade. Those two are deeply connected but its not always positive relationship

[@azmanhamid4569]

Not to worry folks , US is da greatest .. cheers ! Now where were we 🥳😵‍💫🕺💃🎶🎉

[@gottliebvera]

Can't remember the year...but when so many jobs were 'exported' first to Mexico and then to China. And why? Because bigger profits were possible and Wall Street liked this. The average shopper didn't get much out of it.

[@Guantimasao]

American white men fighting AIPAC wars and brown man merry with Mercian soldiers widows… win win for both. Thanks for your service….

[@fannyalbi9040]

Not just wages but also currency r so high. How to compete?

[@thoraero]

Tell the FED to stop "manipulating" the currency the same way?

[@fannyalbi9040]

@thoraero ya but then this will severe the inflation. Can u c the conundrum?

[@thoraero]

@@fannyalbi9040 I know. But you no longer have a perfect solution to win everything. You don't even have a status quo while the riches are projected to be even richer under protectionism shielding their businesses from competition. Devaluation while supporting working class with socialist policy is the only way out. It's not gonna happen though so don't worry let me just dream.

[@jameslawrie3807]

You can plot the way manufacturing moved across the USA following infrastructure as it opened. The manufacturing moved towards cheaper wages. - Up to WW1 it was around the East Coast - In the Interwar and just after WW2 it was in the middle of the country - In the sixties it moved towards the West Coast - In the eighties it simply left the country Each time it left a dead industrial area behind it. US capital has always left its workers behind.

[@Bill-g7d]

To bad, then you can kiss retirements good by. Can’t print currency out of thin air forever.

[@robhappe2705]

Automation, mechanization and AI are changing manufacturing.

[@marienorton8824]

yes, but then you need to make and maintain machines that we dont make

[@robhappe2705]

@ That industry will be reintroduced as well. If importing is not an option then local industries should fill that void. Innovative machines are easy to maintain nowadays. Musk has introduced many innovative machines for Tesla. Innovative manufacturing starts with innovative product design. See Tesla’s super press.

[@MrLamborginigallardo]

​@robhappe2705 Tesla imports many of its parts overseass because it's cheaper. At GigaTexas they brought in Tesla Shanghai Team to oversee operations and cybertruck production area. Chinese and Polish workers were brought since thet were cheaper than Americans to do the new assembly line production areas. American labor and manufacturing cannot compete unless companies are subsized or tarrifs placed on imports.

[@danielodey7775]

I work on the roads in transport . Everyday I admire MACK and Kenworth trucks ; designed and manufactured in the US , along with Harley Davidson.

[@GTPInternational]

I remember when manufacturing was strong in the US and all the people did was bitch about the smokestack and pollution

[@cellevangiel5973]

It is not just the wages but also the innovation, automation of the production and overall quality of the product. And in all these fields the USA is lagging behind. And then comes the big money which get their profit abroad thus don't innovate in the USA.

[@EB-jf5oi]

Nono. The innovation is in the US more than anywhere. Western invention, Chinese labour has been the common trend for the last 25 years

[@root3183]

The manufacturing costs in the United States are higher than in other countries in the world. Unless the United States cuts off trade with all countries, it is impossible for manufacturing to return to the United States because no consumer is willing to spend more money to buy the same products.

[@thegoodpimps]

People still wouldn’t buy the products because they wouldn’t be able to afford it. They would just live with less.

[@johntse8655]

what a joke, even China is going down the road that the Americans did years ago, hi-tech companies along the coast moved inland for lower cost or to other BRICS countries to be closer to the customers and low-tech companies moved out of China to SEA, SA and Bangladesh, they even tried to go to India, but India rejected them, too bad, more for others. there are hardly any low-tech industries in China anymore. the clothes and shoe industries now are all hi-tech and hi-fashion and more important, mostly own local brands that can stand on its own against western luxury brands.

[@mirmohsinali9928]

Great and Broadminded thinking

[@Aluminumfurniture]

We should not see it that catastrophic. The US buyers will have their own semi manufacturing site in their garage, mainly to assemble what they imported.

[@kirkpennock2997]

They call them our enemy and then send them all out jobs. They can have it both ways.

[@gordonallen9095]

I see manufacturing returning to N. America. I just don't see manufacturing JOBS returning with it due to digitization, automation, and robotics. The manufacturing jobs of the 20th Century that left America in the 1980's are now obsolete.

[@clivelee4279]

The simple fact is the purpose of any public company is to maximise return on capital invested , thats it .

[@GlobalDrifter1000]

They do control tariffs.

[@ashtonso6662]

I wonder how the US govt plan to spend the extra bucks from the tariffs ?

[@davidlaw9686]

Thats very true. Advanced countries would want to push (transfer) out laborious jobs, that are at lower rung of the ecomics elsewhere to give space for the higher end of money making.

[@AlmaMercer]

You would take years and years to rebuild what we once had it will never be the same.

[@juhanleemet]

N.A. executives sold jobs to China and India for personal profit, bonuses, and golden parachutes; some of that globalization was reasonable, but it was rushed too much

[@GWAYGWAY1]

You might find that it will too difficult to find anyone in the US that could work in a skilled job now, plenty of graduates in women’s studies etc but few qualified tradesmen, only the few with common sense and no student loans.😊

[@alanpattinson6211]

It was Reagan and Thatcher, they saw inflation as the number one problem.

[@stefanmaslaczyk1259]

China used to rely on plentiful low wage workers. Now though they are outstripping the West on technology, take batteries as an example. It’s difficult to see what China wants to buy from the West apart from raw materials. High end luxury cars, fashion and pop music seem to be the main products on offer.

[@thespartan8476]

If individuals in the US do not heed the advice of economists like Mr. Richard Wolff, they may face negative consequences. The most notable action by President Trump was the threat of imposing 100% tariffs on certain countries - a move that could potentially destabilize the US economy. To promote global welfare, consider alternatives to the US dollar. We may not have Noam Chomsky-John Pilger-Gore Vidal with us anymore. But we have economists like Mr. Richard Wolff, indeed. Supper thanks.

[@waynesmith-h5f]

Use the US military to force the jobs back trump promised..

[@dennisreed6345]

National socialism

[@FreemonSandlewould]

Manufacturing will return. After the Empire of Lies falls. And it looks to be doing that now.

[@leewilkinson8609]

It's all downhill for the good old USA at this point. There's not going to be a MAGA moment. I would strongly advise the common American people to get out of debt and get as self sustainable as possible and prepare for an extremely harsh future..

[@barryetherton4889]

It would take 20 years to change what has happened in the last 40 years.

[@avparam1098]

What's the solution for this problem

[@harbinger6562]

Good morning Prof Wolff should have picked Professors not actors ❤️🇺🇲🌍🌌🦾😇