An Insightful Look at the Unemployment Crisis

This article is worth your time; it is informative, thought-provoking, and inspiring. Our church has several folks who work at a factory, and I imagine your church does as well. So it’s important to think about these things with them.

Russ Roberts calls it, “The best economics article of the year (HT: Chris Jones). Well, the year’s early, but it’s awfully good. You will learn a lot about how the world works. It’s a look at what has happened to manufacturing employment in the US and why it has happened. Superb.”

From the introduction: “In the past decade, the flow of goods emerging from U.S. factories has risen by about a third. Factory employment has fallen by roughly the same fraction. The story of Standard Motor Products, a 92-year-old, family-run manufacturer based in Queens, sheds light on both phenomena. It’s a story of hustle, ingenuity, competitive success, and promise for America’s economy. It also illuminates why the jobs crisis will be so difficult to solve.”

The Farmer


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