Make It In America: The Case for Re–Inventing the Economy Updated Edition

Praise for Make It In America: The Case for Re–Inventing the Economy

"Andrew presents a realistic and informed view of America′s manufacturing problems and what needs to be done about them." —Warren E. Buffett

"A well–written and timely book that deserves wide circulation. Everyone concerned with America′s economic difficulties should read it." —The Washington Examiner

"Mr. Liveris here raises an interesting argument and calls for new thinking."—THE Washington Times

"This book serves as a clarion call for rebuilding the United States′ manufacturing base."—New York Journal of Books

"Calls for a national strategy to revive manufacturing . . . doesn′t shy away from proposing ideas that have defeated countless other reformers." —The Wall Street Journal

"Perhaps because Liveris is Australian by birth, his economic patriotism comes across asgenuine and heartfelt." —The Washington Post

"Liveris delivers a clear and compelling case for maintaining a robust manufacturing sector in the global marketplace of the twenty–first century. Every American who is concerned about the current or future state of our economy should read this book. For those who believe, asI do, that a strong manufacturing base is vital to creating jobs, innovation, and prosperity, this is a book to read and recommend to everyone you know."—Bill Ford, Executive Chairman, Ford Motor Company

"The perspective of a chief executive who is really makingvital decisions about the location of manufacturing plantsand research centers is well worth hearing . . . full of stimulating ideas and remarkably well written." —The Financial Times

Acknowledgments xix

Introduction 1

Chapter 1 The Rise and Fall 11

How We Fell Out of Love with

Manufacturing 14

The Multiplier Effect 19

Manufacturing Tomorrow 22

Surviving the Crisis 25

A Tale of Two Nations 27

Chapter 2 Separating What Can′t Be Separated 31

The Truth about the Manufacturing Crisis 36

Adding Value the Only Way We Can 40

Trying to Survive on Ideas Alone 44

Where Manufacturing Goes, the Ideas Follow 49

Chapter 3 Fighting Offshoring 53

Should I Stay or Should I Go? 56

It Isn’t What You Think 59

Taxing Problems 63

Funding the Future 67

Regulating Our Way into a Muddle 69

Trading Our Way to Prosperity 73

Chapter 4 Energy Drives the World 81

A Big Energy Bill, and Not Just for Power 82

The New New 87

Germany′s Green Miracle 91

China′s Green Revolution 94

America Can′t Compete 98

Chapter 5 Building Tomorrow 103

Education: "A Permanent National Recession" 105

Developing the Right Skills for the New

Workplace 109

Preventing a Worker Shortage 111

What America Doesn′t Understand That Other Nations Do 114

The Tortoise and the Hare 117

A New Foundation of Infrastructure 118

Funding the Future 124

Chapter 6 Built to Compete 129

An Ambitious Agenda 132

Changing the Way We Tax 134

National Incentive Strategy 136

Regulatory Policy 137

Everyone Needs Good Trading Partners 141

Chapter 7 The Long Game 145

The Human Element: Education and Immigration 147

Innovation and Competitiveness 154

Chapter 8 The Fork in the Road 163

Epilogue 175

Bibliography 189

About the Author 213

About The Dow Chemical Company 215

Index 217

Andrew N. Liveris is President, Chairman, and Chief Executive Officer of The Dow Chemical Company, a $54 billion global specialty chemical, advanced materials, agrosciences, and plastics company. Liveris serves as Co–Chair of President Obama′s Advanced Manufacturing Partnership. He serves on the board of directors of IBM, and is Vice Chairman of The Business Council, Vice Chair of the Business Roundtable, a member of the President′s Export Council, and President and Chairman of the International Council of Chemical Associations. He is a member of the U.S.–India CEO Forum, Peterson Institute for International Economics, and the American Australian Association. He serves on the board of trustees for The Herbert H. and Grace A. Dow Foundation, United States Council for International Business, and Tufts University.