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Manufacturing Isn't 'Yesterday's Sector,' Liveris with David Rubenstein
- shaburn 4y ago"If we've lost our ability to actually make then we start to atrophy the innovation side"
- ggm 4y agoHaving poked my head above the parapet on this one relating to Australia, the decline of manufacturing, the re-purchase of goods made with the raw materials we export with minimum processing, There is MASSIVE pushback from reductionist amateur economists. They totally buy (hah) that the win is to get as many goods cheaply even if that means shutting down manufacturing onshore, and buying from least cost anti-union suppliers overseas You can win on strategic/policy drives for control of your own fate, but its hard to get these people to think about the circular economic effects of employing people to make the things you consume, against pursuit of least-cost imports. The case for co-development is out there. I believe in trade. But if your economy hollows out to fintech, services, ageing health care, and mining, you are heading to a bad place. Trust me: we have. (amateur, not economist)