American Industrial Production: 1919-2015

From Don Boudreaux of Cafe Hayek.

"It’s impossible to encounter the news these days – on air, on paper, in cyberspace, in personal conversations – without regularly reading or hearing some lament about how Americans no longer produce things or, as a variation on that theme, about how policymakers should aim to create a ‘renaissance’ of American industry.

Here’s a graph from the Fed (click to enlarge):

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