What's needed to help U.S. manufacturing thrive in the 21st Century?
In an editorial in Real Clear Markets, Thomas A. Hemphill and Mark J. Perry (both of the University of Michigan in Flint), say that the U.S. needs a manufacturing strategy that focuses on making America's industrial sector globally competitive in the 21st century. The two argue that the U.S. needs a regulatory, trade, and tax environment that can "encourage innovation, research, and investment" in "one of America's most historically important industries":
Whether one is in the policy camp of manufacturing "resurgence" or "decline," proper government support for a thriving U.S. manufacturing sector is critical for the nation's long-term economic growth, a higher standard of living, and for national security purposes.
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