“When you have the separation of production from engineering, once you start production of anything sophisticated, then you lose the capacity for innovation. So with General Electric moving its medical equipment headquarters from Waukesha [Wis.], Waukesha becomes just a branch plant and the innovations and advances will take place in Shanghai.”
"The only principle is the maximization of profit, wherever it occurs, and it has little or nothing to do with the needs of the country.”
Ironically, those who claim to be forward-looking are effectively destroying the nation’s capacity to innovate and create new types of jobs when they call for letting manufacturing jobs go offshore.
Moreover, the majority of jobs left behind are low-wage and will contribute only to further income decline, and an even bigger gap between the top 1 percent and the rest of us.
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