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9
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6 months ago
https://www.noahpinion.blog/p/globalization-did-not-hollow-out
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- Submitted By
- Donato V. Pompo
- Submission Date
- August 9, 2025 at 12:10 AM
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- 9f96c078-52ce-4f29-af0a-73d552548251
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- August 9, 2025 at 12:10 AM
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Claims from this Source (9)
All claims extracted from this source document.
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🆔 159bc7cc-ee7b-4808-a15e-9173644d422eSimplified: America's economy in the 1950s and 1960s was heavily based on smokestack industries.
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🆔 cf15555a-ea72-45b0-b17e-856215bc8b87Simplified: Union factory jobs in the mid-20th century created a middle class and America was self-sufficient.
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🆔 cc4f6c27-4606-4e6e-a641-ea2800dee38bSimplified: A paper called China Shock describes a drop in manufacturing jobs by 3 million in the 2000s.
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👤 Paul Krugman 🆔 1f7f3088-bfde-480f-a924-c94de3e52388Simplified: Last year the U.S. trade deficit for manufactured goods was about 4% of GDP.
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🆔 458efb43-0f54-472b-aa8f-9102561a6feeSimplified: The percentage of manufacturing in GDP is decreasing globally.
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🆔 d09404b3-7886-49f9-bc4d-0cee9c03fecdSimplified: Wages have increased since the mid-1990s even with rising trade deficits.
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👤 Economic Policy Institute 🆔 80104712-f75e-4dc1-982d-7cc4fb8720f6Simplified: The Economic Policy Institute (EPI) says wages are not stagnant but suppressed.
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🆔 ec9ff436-a0b5-421b-8031-4d335bc8a1dcSimplified: 2 million workers represented 1.5% of the US workforce.
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👤 Deming et al. 🆔 b0b65048-3709-4eba-a55d-d64e351c6b68Simplified: Deming et al. (2024) indicate that low-skilled service jobs are declining, and more Americans are moving into high-skilled professional services.