Made in the USA. That’s still the best idea! To paraphrase an old maxim: “what’s good for the U.S. is good for the world”. Let’s take a page from our post-WWII playbook and reclaim the business initiatives and entrepreneurial spirit that gave rise to our decades-long economic prosperity. Despite baseless claims by this mostly inept federal administration and their many lapdog media shills, we’re mired at a progressively stagnant, and perhaps, systemically declining economic level. More and more, many have begun to wonder if the historic U.S. business success story has peaked and if we’re on an inevitable and unavoidable downhill slide toward national economic mediocrity. Have we lost or abdicated our world-envied economic leadership to other fledgling countries or regions?
Bypassing an easy finger pointing at the many lame and ineffective politicians and agenda-driven bureaucrats, this group, as well as previous ones, aren’t largely to blame. Instead, we need to understand that the U. S. has been slammed even more so by an insidious triple-fisted mega punch of technological efficiency, on-shore manufacturing decline, and big business dominance. The fact remains that much of the so-called decline of the middle-class can be attributed to the unforeseen net loss of jobs or wage stagnation by this industrial paradigm shift. There are simply fewer $50,000 to $75,000 jobs to be had today.
The substitution or replacement of new-industry created jobs, lower full-time wages, more part-time, and contract positions simply doesn’t compute to what has been lost in this industrial transformation. The indisputable fact remains that the growth in the service sector and technical jobs has not kept pace with the loss in jobs from manufacturing, business combinations, or earning power from those displaced by other newer, less employee-dependent business models. Added to that are 25% to 50% new and higher monthly family expenses needed to run the average household given today’s market configuration from as recently as 2000. Want proof? Simply look at where we are now and where we are headed. While it is inarguable and vital that we champion our technology vision, innovation, and leadership as a nation, it’s clear now that it cannot be at the exclusion of a more comprehensive “old school” industrial skill-set. It’s time to restore the best of the “Made in the USA” model.
Entrepreneurs and small business owners need to be vigorously recruited and financially supported by our myriad financial entities, be they our currently misdirected commercial banking institutions and a largely ineffective SBA support system. Our big banks need to be led away from their harmful business model propensity to be investment bankers and real estate mortgage fee seekers. Here is a real opportunity for politicians and regulators to have a positive impact on rebuilding our national economic clout by assuring financial institutions better support job-creating businesses like those that sprung up after WWII. Banks simply have to to do more bread and butter lending like their pre-2000 counterparts.
The rise of more and larger corporations, be they regional, national, or international, and their impact on our business malaise also needs important strategic attention. Clearly, their shareholder focus largely usurps any other broader consideration. The trend away from smaller, more closely-held businesses has had a decided impact on our economic well-being inasmuch as “big biz” can more easily dictate financial terms in the marketplace. Many can only continue to survive or prosper by cost-cutting, not by revenue growth in a no-growth economy. That’s a business model that’s simply not sustainable over time. Regrettably, there’s likely some need here for governmental incentives that put U.S. economic interests first for USA-domiciled companies. It’s highly unlikely that a corporate re-migration will occur otherwise.
Lastly, at some point, our government and the macro-business community needs to realize that depending on others, particularly China, a devious business partner at best and a self-avowed U.S. foe, is a not only a shortsighted business strategy, but one that has much broader national security implications as well. Again, hearkening back to our WWII lessons, having an ever-ready, flexible, and potent manufacturing infrastructure at hand meant the difference between victory and defeat. That is no less a potential consideration in today’s rapidly deteriorating socio-political world climate.
By focusing on “Made in the USA” we can, first, restore our economic vitality over the next several years. Many of our societal pressures and conditions stem from people not being able to sustain themselves financially. A sound domestic economic underpinning can help alleviate some of those issues and enable us, once again, to be the undisputed beacon of a free world. Our diplomacy and international largess can only come from a sound domestic footing. Go USA!