A common criticism of that high level view of US manufacturing is that it is a bit of a lie, and a lot of it is about hedonic adjustments for new Intel chips be

A common criticism of that high level view of US manufacturing is that it is a bit of a lie, and a lot of it is about hedonic adjustments for new Intel chips being faster than old ones. Without that, the graph of manufacturing output in dollars looks like a steady downward slope from the year 2000 on.