There have been many political figures in the US campaigning for
being the next US president, especially on the Democratic Party's side. The
Democratic Party just had its first round debate on the 26th of June and the
candidates spoke out about their ruling plans for the US if they get elected.
After watching the debate, I think that the Democratic candidates agree on many
issues and only disagree on some minor details. The main focus of the
Democratic Party is to narrow the wealth gap in the society. Many candidates
propose higher taxes on corporation and super wealthy individuals and provide
more social care including higher minimum wages and better health care for more
people. Moreover, some candidates propose creating more jobs and bringing in
back manufacturing jobs to the US. In the previous presidential candidate, the
current president, Donald Trump, also promised to bring back manufacturing
jobs. However, how likely are these manufacturing jobs coming back to the US?
I completely agree with the Democratic candidate, Elizabeth Warrant,
that corporations are only loyal to profits. Therefore, if they can make more
money by keeping manufacturing jobs in the US, they will do so. Then the key
question is whether companies can make more money if they bring back
manufacturing jobs to the US or not. I do not think that any company can make
more money from bring back manufacturing jobs under most circumstances. There
are only two circumstances which I think can bring back the manufacturing jobs
to the US. The first circumstance is to set up tariffs to make the prices of
importing from overseas and manufacturing in the US equally expensive. The
other circumstance is to give subsidies to companies and make manufacturing in
the US more attractive. Both options are bad. Even if we ignore the potential
political tension caused by these acts, these two methods are not going to
produce an economic efficiency in the US economy. The US economy has much
greater advantages in other fields, especially in the cutting edge technology;
focusing too much on the basic manufacturing sector can weaken the investment
in the field which the US is much better at or needs much more.
Overall, bringing back the manufacturing jobs to the US makes much
more political sense than economic sense.
No comments:
Post a Comment