Why Manufacturing Left America

Nearly a century ago, Austrian Economist Joseph Schumpeter observed that capitalism has two fundamental processes, both construction and destruction – not only are enterprises created, but some are also destroyed. Furthermore, destruction may come from several different directions: a loss of customers, supply issues, or, as we'll see, from a lack of capital.
Today, we'll explore the story of how one of New England's premier businesses, one that employed 12,000 workers, was shut down by its owner, who had found better alternatives for its capital.