You assume service industry means everyone is doing high paying mental work? Not everyone is capable of being a doctor or a lawyer. For most people working in the “service industry” they are providing services to the upper class. Maids, waiters, cleaners, cooks, delivery drivers. We don’t pay teachers living wages. The country only needs so many accountants. Anything tech or customer service related that can be outsourced is sent to India.
Just like a stock portfolio, the economy is healthier if it is diversified. That means we need to bring back manufacturing. Maybe then, people besides just lawyers, doctors, and engineers will be able to afford to go to a restaurant.
Just like a stock portfolio, the economy is healthier if it is diversified. That means we need to bring back manufacturing
We have a diversified economy, including manufacturing. We have plenty of high tech, high skill manufacturing that pays well. There is no benefit to trying to claw back low low skill, low tech factory jobs that pay even less than teachers. No one’s portfolio is healthier because they move their investments from blue chips and Treasury bonds to penny stocks and meme coins. Blind, non strategic diversification for the sake of diversification is dumb.
You assume service industry means everyone is doing high paying mental work? Not everyone is capable of being a doctor or a lawyer. For most people working in the “service industry” they are providing services to the upper class. Maids, waiters, cleaners, cooks, delivery drivers. We don’t pay teachers living wages. The country only needs so many accountants. Anything tech or customer service related that can be outsourced is sent to India.
Just like a stock portfolio, the economy is healthier if it is diversified. That means we need to bring back manufacturing. Maybe then, people besides just lawyers, doctors, and engineers will be able to afford to go to a restaurant.
We have a diversified economy, including manufacturing. We have plenty of high tech, high skill manufacturing that pays well. There is no benefit to trying to claw back low low skill, low tech factory jobs that pay even less than teachers. No one’s portfolio is healthier because they move their investments from blue chips and Treasury bonds to penny stocks and meme coins. Blind, non strategic diversification for the sake of diversification is dumb.