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"manufacturing is still important for the health of a country’s economy, because no other sector can generate nearly as many well-paying jobs" This is a tricky
by netcan 11y ago
"manufacturing is still important for the health of a country’s economy, because no other sector can generate nearly as many well-paying jobs"
This is a tricky starting point. Economies have all sorts of side effects that are important. But ultimately, economies are supposed to produce stuff that people consume. We have plenty of pots and pans, furniture, cars, etc. The price of manufactured goods has been dropping for centuries and the quantity has been rising. As the article states, manufacturing is still growing. Wanting manufacturing to keep pace and maintain a proportion of the economy well... We don't need that much manufactured goods.
- bluetomcat 11y agoIt's not about the scarcity of stuff (we have plenty), it's about keeping people employed. Large-scale factory work provides a long-term, stable occupation to a large amount of people. The volatility of the service sector lets people change jobs more frequently, which leads to increased unemployment and psychological problems.
- superbaconman 11y ago> We don't need that much manufactured goods. And I think we're needing less of them too. Everyone who opts to rent vs own is one less mower to sold, one less shed to be built, one less piece of "infrastructure" to maintain. We're all begging for shared public transport which will result in less vehicle production. The way we live fundamentally shapes our economy; I feel like we forget this sometimes.