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November 27, 2015

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Don’t blame U.S. companies that ship jobs overseas

Anger at American manufacturers for moving their operations to other countries is somewhat misplaced. Americans and, for that matter, everyone in the world demand the lowest prices for the goods they buy.

In response to that demand, American manufacturers go where there is a virtually unlimited labor pool, low wages, a favorable tax structure and little environmental regulation — China, Vietnam and South Korea.

The manufacturing sector of the American economy is like the king of rock ’n’ roll: It’s gone and it isn’t coming back. With our comparatively high minimum wage, confiscatory taxation policies and draconian environmental regulations, American manufacturers have been forced into the role of financiers of overseas factory operations.

We could bring manufacturing back to our shores if we were willing to pay dearly for the privilege.

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