The Good Krugman - James E. Miller - Mises Daily

The Good Krugman - James E. Miller - Mises Daily: "the complaints about the 'decline in U.S. manufacturing' are really a somewhat-misguided acknowledgment of the global shift in production that has taken place since we entered the Information Age with the commercial introduction of the microchip in 1971 and gradually left the Machine Age behind. When we complain that 'nothing is made here anymore,' it's not so much that somebody else is making the stuff we used to make as it is the case that we (and others around the world) just don't need as much 'stuff' any more in relation to the overall size of the economy."