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This new Rubio oped bashing Biden for enabling American "deindustrialization" is a masterclass in economic nationalist myth and misdirection. newsweek.com/joe-biden-repr…

US mfg real (inflation adj) gross output & value-added increased 17% & 52% respectively bt 1997 & 2018 (BEA) /1
Durable goods (incl metals, weapons, aerospace, transportation, machinery, med goods (incl masks & ventillators), computers & tech, etc): 36% / 109%

Remove semiconductors & computers: still up 26% / 60%!
/2
Nondurables are -1.0%, BUT driven by textiles, apparel, tobacco(!), paper products, etc - nothing that screams "national security". These sectors are also still big! (Textiles/Apparel output 2018: $72.5B). Meanwhile, the important ones (food, energy, fuels, chemicals, etc): up /x
p.s. new paper on this coming out this year. Plenty more facts on "deindustrialization" and natsec therein.
p.p.s. gonna have so many charts
p.p.p.s. Interactive charts. Oh yeah.
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Scott Lincicome
@scottlincicome
Letting people do what they want with *their property* is totes socialism & much communism
meanwhile, asserting a personal property interest over *another person's property* is muh freedom
#realtalk: there are legitimate liberty/rights interests for BOTH existing homeowners AND developers/entrants. It's a difficult issue.

BUT the econ/other harms caused by land-use over-regulation are clear, & trying to address them - while balancing these interests! - is Good.
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Scott Lincicome
@scottlincicome
"The rise of the upper middle class" washingtonpost.com/opinions/the-r… ImageImage
For my fellow liberal arts majors & lawyers out there, here's your '67-'16 change by group:
Poor/near-poor: -3
Lower middle: -15
Middle: -11
Upper middle: +27(!)
Rich: +2 Image
And before you ask
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Scott Lincicome
@scottlincicome
The same studies also note that it was market-oriented Chinese economic reforms - often in response to WTO/accession requirements (& Member demands) - that drove most of the China Shock. Other studies also show the US gained jobs in other sectors & saw big consumer/gdp/mfg gains
So is the WTO now Bad for encouraging all of those market-based reforms? Is it also Bad for providing a venue for the USA to successfully litigate disputes against China (and for China to often comply)?
Or is the WTO now Bad bc the USA & other members didn't bring more cases or pursue compliance proceedings? Is it the WTO Bad bc the US abandoned the multilateral system (and the TPP) and pursued a foolish unilateral approach? (see today's WSJ: )
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