The Return of Manufacturing in the United States
Ross Perot once said, with regards to NAFTA, that there would be a "giant sucking sound" as jobs left the USA. Many people scoffed at his comment, probably based on his big ears and use of obscure colloquial phrases, even though he was right.
But manufacturing can still exist in the US and can even potentially thrive because of the power of the internet.
A micro-factory can be started to create a product that can be sold through website instead of a brick-and-mortar store. Through the use of an affiliate program, the business can garner an army of marketers to spread the word about their product.
The ability to purchase directed and focused advertisements online through services like Google and Facebook allows for greater exposure at lower cost.
By creating a vertically integrated operation, where the product is manufactured and sold without the use of middlemen, distributors, and wholesalers who each take a big cut of the profits, the micro-factory can sell directly to the consumer.
Wages in the US are significantly higher than overseas, but by cutting out the middleman, the profit margins can be large. Even better than traditional manufacturing wholesale cost structures, achieving the upside of revenue selling at retail prices.
With more money staying in the US, we'll lessen the trade deficits, help the economy, provide for a real stimulus, and lastly, reduce the "sucking sound" while proudly waving the "Made in USA" banner.