Picking losers isn't great industrial policy.
What is the nature of the problem we are addressing? I saw three articles today that relate to this issue. One related declining manufacturing in specific areas to increased white male mortality, arguing that increased unemployment was the direct cause of increased mortality rates among white males. ( one wonders about the causation/correclation issue with this study.) A second proposed a slightly different and perhaps sounder explanation for increased white male mortality (See here.). The Third reviewed the changes in manufacturing output relative to employment (See here.).
The point is that trying to prop up stagnant or declining industries may not solve the decline of manufacturing employment. Those jobs didn't leave for other countries--for the most part they just left--and the majority of them aren't coming back no matter how hard any politician jawbones.
We need to support smart, new industries and deal directly with the problems created by sectoral and technological change. Help people--not companies.
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