3 ms·
You're picking a strange point. Relative decline, in %GDP, does mean a decline in importance in manufacturing. It's well known that US manufacturing is down for
by darkmighty 12y ago
You're picking a strange point. Relative decline, in %GDP, does mean a decline in importance in manufacturing. It's well known that US manufacturing is down for the last few decades and Germany is indeed an outlier among western countries in that manufacturing has retained relative economical importance.
- michael_h 12y agoIt's well known that US manufacturing is down manufacturing employment is down.
- danielweber 12y agoI don't know about "importance," since it seems like a value judgement, or an equivocation to use the word in two different senses at the same time. Agriculture is less than 2% of American GDP but no one starves for lack of food. The US doesn't need to pour more resources into making food more "important." The US really is manufacturing more stuff than ever. http://2.bp.blogspot.com/-OyF5jxwDPa4/T7b90wKmj5I/AAAAAAAARnI/mJhmTS_Ckw0/s1600/mfg2.jpg http://2.bp.blogspot.com/-OyF5jxwDPa4/T7b90wKmj5I/AAAAAAAARn... Manufacturing is high-beta relative to GDP, so trying to increase its percentage of GDP would increase overall volatility.