Dylan Matthews

If part of the appeal of manufacturing was that it provided decent wage jobs for people straight out of high school, that is not the way a lot of these factories operate these days. And I think it also gets at some of the, like, how we define the limits of what manufacturing is. NVIDIA, which is one of the most valuable companies in the world, does not make a single chip.

If part of the appeal of manufacturing was that it provided decent wage jobs for people straight out of high school, that is not the way a lot of these factories operate these days. And I think it also gets at some of the, like, how we define the limits of what manufacturing is. NVIDIA, which is one of the most valuable companies in the world, does not make a single chip.

If part of the appeal of manufacturing was that it provided decent wage jobs for people straight out of high school, that is not the way a lot of these factories operate these days. And I think it also gets at some of the, like, how we define the limits of what manufacturing is. NVIDIA, which is one of the most valuable companies in the world, does not make a single chip.

They design chips, and they pay other people to make them. And the people doing that design, I think, are in some important sense doing manufacturing.

They design chips, and they pay other people to make them. And the people doing that design, I think, are in some important sense doing manufacturing.

They design chips, and they pay other people to make them. And the people doing that design, I think, are in some important sense doing manufacturing.

So I think the I don't want to say that manufacturing is never coming back. Manufacturing will always be an important part of the economy. It's just incredibly, incredibly automated. We've had in many sectors robust growth in productivity, I think, especially computers and computer manufacturing.

So I think the I don't want to say that manufacturing is never coming back. Manufacturing will always be an important part of the economy. It's just incredibly, incredibly automated. We've had in many sectors robust growth in productivity, I think, especially computers and computer manufacturing.

So I think the I don't want to say that manufacturing is never coming back. Manufacturing will always be an important part of the economy. It's just incredibly, incredibly automated. We've had in many sectors robust growth in productivity, I think, especially computers and computer manufacturing.

And growth and productivity for manufacturing has been the main driver of employment loss in the sector. Competition from China played a role. Some policies taken by the US played a role. The main factor was you need fewer workers to make the same amount of stuff. That process has been going on globally.

And growth and productivity for manufacturing has been the main driver of employment loss in the sector. Competition from China played a role. Some policies taken by the US played a role. The main factor was you need fewer workers to make the same amount of stuff. That process has been going on globally.

And growth and productivity for manufacturing has been the main driver of employment loss in the sector. Competition from China played a role. Some policies taken by the US played a role. The main factor was you need fewer workers to make the same amount of stuff. That process has been going on globally.

And I think there are a few metrics by which global manufacturing employment, the total number of people in the world who work in manufacturing has peaked. If global manufacturing employment has peaked, That is not about policy. That is not about trade imbalances. That more or less has to be because of technological changes.

And I think there are a few metrics by which global manufacturing employment, the total number of people in the world who work in manufacturing has peaked. If global manufacturing employment has peaked, That is not about policy. That is not about trade imbalances. That more or less has to be because of technological changes.

And I think there are a few metrics by which global manufacturing employment, the total number of people in the world who work in manufacturing has peaked. If global manufacturing employment has peaked, That is not about policy. That is not about trade imbalances. That more or less has to be because of technological changes.

So that's why I felt confident saying the share of manufacturing employment in the U.S. is not going to go up again. There's just been a lot of money invested in making humans less essential to the production process.

So that's why I felt confident saying the share of manufacturing employment in the U.S. is not going to go up again. There's just been a lot of money invested in making humans less essential to the production process.

So that's why I felt confident saying the share of manufacturing employment in the U.S. is not going to go up again. There's just been a lot of money invested in making humans less essential to the production process.

Just two things here. I think the best analogy I've heard for using tariffs to try to get manufacturing jobs back is if you run someone over with your car and then to fix the situation, you back over them again. It just doesn't follow that if the U.S. changing its trade policy one way led to this exit of jobs, that reversing that will bring them back. You can't put the

Just two things here. I think the best analogy I've heard for using tariffs to try to get manufacturing jobs back is if you run someone over with your car and then to fix the situation, you back over them again. It just doesn't follow that if the U.S. changing its trade policy one way led to this exit of jobs, that reversing that will bring them back. You can't put the