Obama understands that the nature of our military has changed and therefor the structure of it has changed (no more bayonets or horses). I thought that was a funny part of the debate. But I wish Obama could take that knowledge over to his view of economics.
All we hear from the presidential candidates is that China keeps taking our manufacturing jobs and blah blah blah. Well that’s because the nature of our economy has changed. America doesn’t need a huge manufacturing sector because our economy has grown out of that phase. America is making superconductors and aircrafts while China is making hats and snow globes. Who gives a shit if China is “taking these jobs” from America? Having a state guided economy that tries to boost “manufacturing jobs on our shores” is the same thing as having a military in the 21st century that uses horses and bayonets.