This land is your land, this land is my land
From California to the New York island,
From the redwood forest to the Gulf Stream waters;
This land was made for you and me.
As I was walking that ribbon of highway
I saw above me that endless skyway;
I saw below me that golden valley;
This land was made for you and me.
—This Land Is Your Land, Woody Guthrie
Once upon a time, the American Dream looked like this.
You got decent pay. Social security. Social mobility. A house with a picket fence. Your own slice of paradise.
In the 1950s, a factory job could allow you to have these things. You didn’t need an advanced degree. All you needed was a desire to do the hard yards. An honest day’s work for an honest day’s pay.
Is it any wonder that Americans have a nostalgic love affair with manufacturing? They worship it. Just look at the gritty steelworkers in the movie Norma Rae. Or even Bruce Springsteen singing Factory with that raw, blue-collar ache.
Source: Charlie Bilello
Source: Charlie Bilello
However, the shape and fabric of the American economy has changed dramatically over the last few decades:
- In 1945, 45% of private-sector jobs in the United States used to be in manufacturing. In 2025, that number has dropped to just 9%.
- This drop-off coincides with another important trend. American consumers are now spending more of their money on services than goods. It’s eye-opening, isn’t it?
- So, if you’re wondering why a software engineer is being paid more than a steel welder, well, that’s your answer right there.
At the moment, globalisation remains a hotly contested topic. It’s emotionally charged. Hugely controversial. Everyone has a passionate opinion about it:
- So, last time in Part One of my investigative series into the impact of globalisation in America, I explored the history of California’s rise to fortune. How did it happen? Why did it happen? And what were the biggest lessons to be learned?
- Now, in Part Two, I want to provide you with some additional connective tissue. I want to bridge the gap between California’s prosperity and the Rust Belt’s decline in the American Midwest. I will also try to answer the biggest question of all: Is there hope for a manufacturing revival in America? And what will that revival look like?
Your first Quantum Wealth Report is waiting for you:
