the real problem is this poorly planned effort to make the US a manufacturing nation via political fiat in the face of all reason rather than accepting economic realities about comparative advantage in manufacturing
The US was once a manufacturing powerhouse and, in theory, could become one again. Working-class people understandably want their jobs back, and you can’t blame them for being taken in by false promises to bring those jobs back.
But the harsh reality is that creating a regulatory, taxation, and broader economic landscape attractive to manufacturing would inevitably threaten elites and firms at the top of the economic hierarchy. While there’s nothing wrong with that -- in fact, it’s likely healthy for the economy -- it won’t happen[1]. Those elites and anticompetitive firms abuse their undue influence to subvert democracy and shape laws in order to further entrench their market power.
[1] Or more precisely, it won't happen soon. It's pretty clear that the era we're in is coming to an end but change will likely be slow unless there's a surprise shock to the system.
