Eli Broad Quotes

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.

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.

Trump, who in his own history as a developer preferred mob concrete and Chinese steel to the variety produced in the Rust Belt, cannot bring back the steel and manufacturing jobs lost in Lorain, Ohio or western Pennsylvania.

Manufacturing and other unskilled professions that were union jobs, that allowed people to live a middle-class life, are disappearing both because unions are disappearing and because of the global nature of the economy.

Technology, outsourcing, a growing temp staffing industry, productivity efficiencies, have all replaced the middle class.

America, the temple of invention and industry, doesn't make things anymore.

Many large corporations in the last 20 years have decided that their business plan is to shut down manufacturing in Dayton and Toledo and move it to Wuhan and Shenzhen. And then they will sell products back into the United States. It’s a betrayal of this country and a betrayal of the middle class.

Growing up in Buffalo, I saw shuttered factories that once housed thousands of steel manufacturing jobs. I remember the hollowing-out of the middle class in our community. I witnessed hope turn to hardship as a once-thriving city reckoned with a fast-changing world.

I have lived my whole life just outside Youngstown, Ohio. We watched the steel mills close and 50,000 jobs disappear in the late 1970s. We watched businesses move overseas throughout the 1990s and early 2000s.

The globalists gutted the American working class and created a middle class in Asia.

By the time I was leaving school, there were no factories. There was no industry.

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.

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.

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.

Do we want in this nation to lose the backbone of manufacturing in this country? Do we want to be a nation that doesn't want to manufacture anything?

You lose manufacturing jobs, you rarely ever get them back again.

America's moved so much of its production and manufacturing offshore, it's become a nation of middlemen.

Unfair trade deals like the North American Free Trade Agreement eviscerated good-paying manufacturing jobs, putting more than 3 million U.S. workers out of work.

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

Unfortunately, we have lost our manufacturing capacity.

The economic development of industrial society tends inevitably to the ruin of small industries.

This is … a time when there is increasingly no such thing as a high-wage, middle-skilled job — the thing that sustained the middle class in the last generation. Now there is only a high-wage, high-skilled job. Every middle-class job today is being pulled up, out or down faster than ever. That is, it either requires more skill or can be done by more people around the world or is being buried — made obsolete — faster than ever

The base of the party, the middle-aged white working class, has suffered at least as much as any demographic group because of globalization, low-wage immigrant labor, and free trade. Trump sensed the rage that flared from this pain and made it the fuel of his campaign.

Like many Americans, my family and I have spent our entire lives at the epicenter of de-industrialization.

I think a lot of scapegoating has been done on NAFTA. The reality is, a lot of the jobs have been lost mostly to technology. And that is something that happens well beyond the reach of NAFTA or any other trade agreement.