In a recent article in Bloomberg Businessweek (http://buswk.co/anJcIW), Andy Grove (former CEO of Intel) describes his answer to where the US jobs have gone, how that damages the process of innovation within the US, and his approach to creating more jobs in the US.

In short, the desire for short-term profits drove companies to send manufacturing jobs overseas.  The belief was that the high-end engineering and design jobs would stay on shore.  However, Dr. Grove argues that when the US gave up the manufacturing jobs, it also gave up the ability to scale up from start-up to manufacturing.  This also has the unintended consequence of leading to the loss of the ability to innovate. His exact phrase is " we broke the chain of experience that is so important in technological evolution." He uses battery and photovoltaics manufacturing as proof of his arguments.

His answer to reverse both of these trend is to "Levy an extra tax on the product of offshored labor".  Then use this money fund companies that want to scale up in the US. This fund will be a reminder that American companies need to employ Americans and we will put our money behind our ideals.

Grove says that if there is a trade war, so be it. Let's fight to win!

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