Joseph Stiglitz Quotes

Although the number of manufacturing jobs in the United States has stagnated, dropping 12 percent from a high in the early 1980s, the number of retail jobs has risen 43 percent.

Globally, manufacturing jobs are on the decline, simply because productivity growth has outpaced growth in demand.

The bottom line is there are lots of problems that were not created by government. The biggest one is loss of middle class incomes, loss of good-paying jobs which was created by technology and globalization. Above all, when you can move a job to China or India, it reduces wages.

The loss of manufacturing jobs is a sign of economic health.

There is a trend worth worrying about, which is the disappearance of manufacturing jobs from the workforce. Shortly after World War II, about one-quarter of employed Americans held manufacturing jobs. Now less than one-tenth do. From the perspective of individual businesses, this change is natural and desirable—rising productivity by definition means fewer people making more things. But it is troublesome for society as a whole, since factory jobs have historically buoyed the middle class and given rise to future industries and jobs, virtuous-cycle style.

When the manufacturing decline began in earnest in 2001, the main culprits were the offshoring of jobs to China, with which we have no trade deal, and automation.

Since 2000, we have lost 2.7 million manufacturing jobs, of which 500,000 jobs were in high-tech industries such as telecommunications and electronics.

In the four decades after World War II, manufacturing jobs paid more than other jobs for given skills. But that is much less true today. Increased international competition has forced American manufacturers to reduce costs. As a result, the pay premium for low-skilled workers in manufacturing is smaller than it once was.

Our great history has been that people came to Michigan because you didn't have to have a college degree to get a good-paying job. Consequently, we have got a larger number of our population that right now are facing outsourcing, et cetera, without higher or advanced degrees.

High-profile industry disruptions such as steel or car plant closures attract much media and political attention.

Every day more Americans watch their jobs being shipped overseas.

We have come to the point where a new machine invented in England deprives millions of Chinese workers of their livelihood within a year's time.

The data on worker displacement after NAFTA reads like a funeral program for the middle class.

People feel these job-killing trade agreements have really squeezed the middle class and caused lots of people to lose their middle-class status.

What is good for General Motors is not good for America if General Motors is moving production out of the United States.

We're losing all kinds of white-collar jobs, all kinds of jobs in addition to manufacturing jobs, which we're losing by the droves in my state.

Automation has emerged as a bigger threat to American jobs than globalization or immigration combined.

Back in the 1980s parts of our country were devastated by de-industrialisation. This wave of globalisation and the first fruits of technological innovation destroyed industrial jobs or exported them to low-wage economies. The loss of work had a devastating impact.

What people are now realizing is that this formula that technology destroys jobs and creates jobs, even if it's basically true, it's too simplistic.

The bottom line is that while automation is eliminating many jobs in the economy that were once done by people, there is no sign that the introduction of technologies in recent years is creating an equal number of well-paying jobs to compensate for those losses.

I'm an entrepreneur trying to let the American people know that it's not immigrants that are causing economic problems, it is the fact that our economy is advancing in ways that is making human labor less and less essential.

The United States faces structural employment problems because of the long-term effects of globalization and technology. This was only exacerbated by the Great Recession.

Offshoring manufacturing jobs left Americans with fewer high-value-added, well-paid jobs, and the U.S. middle class downsized. Ladders of upward mobility were taken down. Income and wealth distributions worsened.

America has lost nearly one-third of its manufacturing jobs since 1997 following the enactment of disastrous trade deals supported by Bill and Hillary Clinton.

Unfortunately, the United States has entered into several free trade agreements that do not sufficiently protect and support our manufacturing industries and the millions of American workers they employ.