Tell me again how manufacturing is coming back to the states? [/quote]
Sure. While it is not my responsibility to teach you economics, but it is a subject I excel in, especially on the quantitative side. So the first thing you need to understand - and pardon my mild incivility - is why did manufacturing leave the United States?. But to answer this question, we have to turn to economic historians, and they will start by telling you a major flaw in my discipline called the myth of trade liberalism, and the link to economic development. I suggest reading the article below, and you will start to get a sense of why Trump is doing what he is doing.
http://www.larouchepub.com/eiw/public/1996/eirv23n36-19960906/eirv23n36-19960906_016-free_trade_is_an_aberration_not.pdfThe findings in the article above were not new and were re-validated by Ha Joon Chang in 2009. That is, earlier Adam Smith had warned that if English merchants and manufacturers were free to import, export, and invest abroad, it would be they who profit while the English society would be harmed … So he instead argued or believed that English capitalists would like to invest and purchase in their home country, and so if by an “invisible hand” (the only time this terms appears in Wealth of Nations), England would be spared the consequences of economic liberalism. Similarly, David Ricardo, discusses that his theory of comparative advantage would collapse if it were more profitable to the capitalists of England to invest in Portugal for both manufacturing and agriculture … but this would not happen because again he believed that they would feel insecure about capital abroad and that they would be satisfied with lower rate of profits in their own country …
After WWII the economic regime established by the US and Britain … negotiated by Harry Dexter White and John Maynard Keynes … was of the belief that economic sovereignty is a crucial factor in growth. The system they designed was based on capital controls and regulated currencies (I call these smart regulations) in order to protect economic sovereignty (or as Bannon calls it economic nationalism - nationalism because it is not about white nationalism, he means anti globalization), and to permit state intervention to carry out social democratic measures - this is how the stimulus of infrastructure development and repair generates further jobs like FDR did, and then higher revenues can be dedicated for health, education and other social goods. The 25 year period was marked with significant growth and at the end of it the lowest inequality in the history of US. Can it be repeated? Of course it can but here the anamoly is again smart regulations coupled with freer internal markets... Hope this helps.