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A loss of political support for manufacturing has caused a loss of manufacturing in the US too - we wanted nice clean information jobs, no dirty factory jobs sp
by Aloha 7y ago
A loss of political support for manufacturing has caused a loss of manufacturing in the US too - we wanted nice clean information jobs, no dirty factory jobs spewing chemicals all over
- all2 7y agoThis isn't true at all. The US has more manufacturing capacity than it ever has. https://www.federalreserve.gov/releases/g17/ip100_f2.svg https://www.federalreserve.gov/releases/g17/ip100_f2.svg
- skrebbel 7y agoWhat's the unit on that Y axis?
- tedeh 7y agoIt is an index that starts at 100 at the beginning of the graph.
- Aloha 7y agoAn index of what? Units? Weight? Volume? Dollar Value?
- _iyig 7y agoI recall an article (or blog post) from a couple years ago- it made the case that US productivity had been grossly mis-indexed since the 80s, in part due to assumptions about CPU power relating to economic productivity where Moore's Law essentially inflated the numbers. Does anyone happen to remember this same article, and have a link? EDIT: here it is, from 2012. I saw it again in 2016 when it was brought up to explain Trump's election, by way of reminding American elites just how bad "deindustrialization" and globalization really had been for the heartland: https://www.washingtonpost.com/business/economy/economists-offer-more-pessimistic-view-on-manufacturing-in-upcoming-report/2012/03/19/gIQAKSpZNS_story.html https://www.washingtonpost.com/business/economy/economists-o... "Moreover, at least some of the productivity gains shown in U.S. computer manufacturing reflect the increasing power and decreasing prices that come with innovation. When a computer chip doubles in efficiency, that can turn up in a doubling of output and productivity in computer manufacturing. But that is not what is ordinarily thought of as manufacturing efficiency. “It is innovation that makes it look like they’re manufacturing a whole lot more in the U.S. than they really are,” Atkinson said."
- blululu 7y agoAnother source to this thesis: http://www.upjohn.org/MEG/papers/Measuring%20Mfg_Houseman_Bartik_Sturgeon.pdf http://www.upjohn.org/MEG/papers/Measuring%20Mfg_Houseman_Ba...
- Gibbon1 7y ago> The extraordinary real GDP growth in these sub-industries, in turn, is a result of the adjustment of price indexes used to deflate computers and semiconductors for improvements in quality. Gag
- ChuckMcM 7y agoSee this page: https://www.federalreserve.gov/releases/g17/CapNotes.htm https://www.federalreserve.gov/releases/g17/CapNotes.htm for an explanation of how the Federal Reserve gets these numbers.
- JMTQp8lwXL 7y agoSeems like manufactured plateaued in the late 2000s, at least compared to its historical growth rate.
- kerng 7y agoI think US is manufacturing more themselves then ever, and over the next few years its gonna be even more due to current political climate.
- nabla9 7y agoWe live in post-industrial society. It's a natural and welcome development. Manufacturing's share of GDP falls in all OECD countries. Services grow faster. Even manufacturers get more and more income from services.