I’m Geezing but I remember when the Japanese were beating the pants off of US manufacturers and production methods including Just In Time were being adopted in the US.Some ideas like Total Quality were brilliant but others, not so much.
The Japanese JIT relied on domestically controlled “captive” suppliers. i.e. If I can “outsource” switch production and dictate product specifications to a small supplier in the next city and become a customer for 90% of their producation, I can avoid my higher internal labor costs while still enforcing my quality and delivery requirements.
Great idea except what happens when I no longer “control” the supplier and the supplier is no longer 100 miles away? Well you see the result.
The bottom line is that in a Free Market manufactures properly have a short term viewpoint focused on profits, which generally benefits us all but there’s also a need for some long term direction which is the role of the Government.
While I’m a huge advocate of Free Markets and minimal Government intervention there’s still a role for the Government in critical industries and yeah, it will cost us.
We saw the result of the Oil Embargo and invested our tax dollars in tax breaks for domestic production and likewise we can invest our tax dollars in incentives to assure a minimal capacity for domestic production of other critical products whether it’s chips, shoemaking (the boots on the ground) or bullets which were in short supply during our last war.