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Globalization did not hollow out the American middle class
The protectionist narrative is more myth than fact.
The college-educated upper middle class thrived in their professional jobs, while regular Americans were forced to fall back on low-wage service work. You can also see from this chart that other countries haven’t necessarily done an amazing job of protecting their industrial bases, as Nocera claimed; the manufacturing share of GDP is drifting down everywhere. I also think it’s important for building a balanced, well-rounded economy — adding high-tech manufacturing on top of America’s knowledge industries would make us even richer, and would help us pump up exports and take advantage of multiplier effects.
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