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Why American manufacturing is becoming less efficient (www.economist.com)

submitted 1 year ago by L4s to c/technology

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Why American manufacturing is becoming less efficient::undefined

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[–] [email protected] 8 points 1 year ago* (last edited 1 year ago) (7 children)

https://web.archive.org/web/20231110232943/https://www.economist.com/finance-and-economics/2023/11/09/why-american-manufacturing-is-increasingly-inefficient

[–] [email protected] 14 points 1 year ago (6 children)

Spoilers!

industrial productivity growth has slowed across the rich world, even if not by as much as in America (see chart 2). The extra bit of American underperformance is trickier to explain. Economists throw out a boatload of hypotheses. America is known to have laxer antitrust enforcement than its peers; perhaps scrutiny was especially needed in the manufacturing sector. Maybe American manufacturing was more advanced when robots arrived on the scene, so had less to gain. Some have even argued that because America’s software and internet sectors have been so lucrative, talent has been diverted away from older industries.

[–] just_another_person 3 points 1 year ago (1 children)

I'd wager it's a combo of all of those things, plus we've just lost the innovations that come with running that of wider sector since so many things are done in other countries now. Manufacturing jobs in the US are also considered blue collar, and blue collar is not looked at as an enviable job.

[–] curiousPJ 1 points 1 year ago* (last edited 1 year ago)

we’ve just lost the innovations that come with running that of wider sector

I'd argue that is not the case at all since manufacturing innovation is a commodity sold to the global market. See manufacturing trade shows. The tech is available, the skilled labor doesn't exist in plentiful numbers to exploit such tech readily.

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