Friday, May 27, 2011

decline of manufacturing a good thing?

We often hear much angst about the decline of manufacturing and jobs moving offshore. Carpe Diem has posted a chart of this as "a global phenomenon as the entire world becomes increasingly a services-intensive economy." 
"The standard of living around the world today, along with global wealth and prosperity, are all much, much higher today with manufacturing representing 16-17% of total world output compared to 1970, when it was almost twice as high at 26.7%. And for that progress, we should applaud, not complain."

1 comment:

  1. KS, that's an interesting chart. Thanks for posting.