Showing results for "Matter" in Economic Conditions

In the 1950s manufacturing generated nearly 30 percent of US income. Over the past 55 years that share has gradually declined to less than 12 percent at the same time that real estate, finance, and Wall Street trading have grown. While manufacturing's share of the US economy shrinks, it expands in countries such as China and Germany that have a strong industrial policy.

America is mired in debt—more than $30,000 for every man, woman, and child. Bitter fighting over deficits, taxes, and spending bedevils Washington, D.C., even as partisan gridlock has brought the government to the brink of default. Yet the more politicians on both sides of the aisle rant and...