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Stanley Black & Decker, the 183-year-old American toolmaker, is closing its last hometown factory in New Britain, Connecticut this week. The conventional explanation, cheap foreign labor, does not fit the facts. Stanley's American-made tape measure was the industry standard. The Thai import that displaced it is worse built. It simply prints numbers on both sides of the blade. That detail rewrites the story of American deindustrialization. Tariffs, the policy tool of choice for thirty years, oper

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