Quote:
Originally Posted by whell
Regardless, the Indy plant, prior to the pandemic, had retained 800 jobs and brought back many of those that had been laid off. Only you could complain about, or want to change the subject from, something that was good news to the employees at the Carrier plant.
Contract this approach, where one takes a risk and tries to incentivize companies to reduce offshoring, versus the Obama approach - acting like a defeatist about it while repeating over and over: "Some jobs are never coming back".
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My original contention way back when (that you disputed at the time) regarding the Carrier plant was this was not a sustainable economic model (i.e., it was a one-off). Both the failure of the highly touted FoxConn plant deal in Wisconsin (highly touted by Trump and Scott Walker) and the fact that Trump never developed a coherent economic policy (besides a budget-busting tax cut for the wealthy and corporations) proves my point.
As for Carrier, it wasn't the unqualified success for Indiana's economy like you asserted it would be:
While Trump has made promises to save manufacturing jobs, Ball State economist Michael Hicks says the president’s trade battles and other policies have done the opposite.
“With the beginning of the trade war, about midway through 2018, and then up until the start of the pandemic, Indiana had lost about 5,800 factory jobs,” said Hicks.
In fact, 2019 was the first time since the Great Recession that Indiana lost more manufacturing jobs than it gained. For those in the manufacturing industry, the loss of jobs is an ongoing challenge going back decades.
Hicks said, last year, the Midwest started going into a manufacturing recession, but Trump’s trade wars have only further hurt the industry.
“Indiana, right now, is sort of leading the Midwest in its Trade Adjustment Applications. Those are companies that are saying they're shipping production overseas, the overall effect of that tends to be the closure of an entire plant,” he said.
https://www.wfyi.org/news/articles/f...some-had-hoped
As for Obama, this thread is about Biden's economy. That said, Obama was absolutely correct. The buggy whip industry is dead, as are VHS, BetaMax and answering machines. Even passenger sedans are no longer being built by the company that first mass produced them (and which is located spitting distance from where you live).
You seem to be arguing against a fundamental tenet of capitalism, creative destruction (the process of innovation and technological change that leads to the destruction of existing economic structures, such as industries, firms, and jobs). That's not really a surprise given your demonstrated lack of understanding of even the most basic economic principles.