The flipside is that offshore manufacturing leads to job losses in the manufacturer’s country of origin, but then this again creates an extra incentive for those workers who have lost jobs to work hard so as to scale the high value jobs which their country has a comparative advantage to produce.
First, when you raise the cost of labor for small entry level jobs, there will be fewer of them as businesses raise their prices and clientele evaporates, some businesses will close, fewer jobs. The businesses and business models that survive will absorb those costs with rate and price increases to customers – this results in inflation therefore your dollar will be worth a little less, how much is hard to say; 10%, maybe 20%, which is about how much the minimum wage increase would be from what it is now if it went up to let’s say $10.00.
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But a new crop of manufacturing jobs popped up in Greenvile. One such company is Standard Motor Products, a company that makes car parts. But the textile manufacturing jobs do not really look like the modern high tech manufacturing jobs. You won’t see any worker working up a sweat. In fact, manufacturing has changed greatly since the Industrial Revolution; the process is very automated with very little manual labor, and employees must be highly trained because they work with complicated microscopes and gages. Davidson described it more as a science lab than a typical auto plant.
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