Deindustrialization Issues in the United States
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According to conventional wisdom accepted at the end of the 20th century, the United States had to move to a "post-industrial" economy, transfer production offshore and concentrate on research, software and finance. However, over time, real national costs of that strategy have become obvious. Not only has the U.S. manufacturing sector lost 5 million jobs in 20 years. Its persistent pattern of weakness is indicated by weak productivity growth, production increases in just a few industries, decreasing numbers of small and medium-sized enterprises, shortages of skilled personnel, expanding trade deficits in advanced technologies and increased risks for defense sector.
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1998 ◽
Vol 20
(3)
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pp. 323-335
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