No, regulations didn't cause that. Advances in technology and automation killed a number of manufacturing jobs in this country and the U.S. winning the Cold War along with the growth of China and India brought millions upon millions of workers into the global economy.
I think I can see the automation bit getting rid of some jobs. But other jobs would have to have been created. A machine can make something, but a human has to operate the machine. A plant cannot be totally robotic.
But let's look at the kind of work being farmed overseas. It's the same job, just being done by countries with a surplus of human capital. Yes, that could be a legitimate reason. The how makes sense, but not the why.
In college I was part of a group that was engaged by a private company to locate it's plant overseas. We went through hell trying to navigate all the red tape, the language barriers of certain countries, the cost of moving equipment, training workers, etc.
WHY would a company do that? Why would a company want to invest extra money in getting managers to learn Chinese in order to hire local Chinese to help train workers? Why would a company spend all the money on building something thousands of miles away on the other side of the world, and then have to spend millions in transporting the products back to our shores, back to the largest market on the planet? Why would a company want to hire any workers but English speaking workers. Why would a company NOT want to be no more than ten hours by semi tractor trailer to its market?
Who benefited from this?
Evince mention regulations. (First intelligent answer I've ever heard from her since I got here.) Maybe she's from the low information crowd that thinks corporations AREN'T regulated enough.
I'm thinking the regulations by our government are a factor. And again, if our parents could have had good lives with just high school diplomas and worked in manufacturing jobs and could have afforded things, what has changed all that today?
And again, there are no wrong answers here. Probably every theory here has some basis in fact.