Manufacturing still matters Posted By Clyde Prestowitz

Our problem is not romanticizing manufacturing. Rather, it's failing to correct and respond to structural impediments and market distorting policies that are eroding the U.S. productive base. We fail to do this because our analysts fail to understand the significance of the positive spillovers of manufacturing. When U.S. companies invest abroad because the United States fails to match the investment incentives being offered by foreign governments, America suffers unnecessary erosion of its productive and technological leadership.
Rationalizing that by arguing that it doesn't matter because our future is in services, is a grave mistake.

http://prestowitz.foreignpolicy.com/posts/2013/04/18/manufacturing_still_matters