Manufacturing Myths

Manufacturing Myths
Mr. Uchitelle says, 'Manufacturing's share of real gross domestic product... has dropped to between 16 and 17 percent, from 18 to 19 percent in the 1950s.... The downward trends are alarming.' Similar statistical exercises recently led to an interesting debate between my old friends Bruce Bartlett and Paul Craig Roberts.
Yet the National Association of Manufacturers' Web site shows that 'manufacturing's share of the U.S. economy, as measured by real GDP, has been stable since the late 1940s.... The overall share remains the same over the business cycle.' "

Isn't it amazing how "good news" is so hurtful to liberals?