Beginning with the theology of globalization in the 1980s, and relentlessly driven by cost-cutting CEOs and their activist investors, American companies shut down domestic factories and offshored manufacturing. The trend accelerated in the early 2000s, when Tesla was getting started. Between 2000 and 2010, the U.S. lost one-third of its manufacturing jobs. By sending their factories abroad, American companies saved labor costs, but they lost the daily feel for ways to improve their products.
