Sunday, September 11, 2011

Can manufacturing recover?

Louis Uchitelle over at the New York Times (see here) as a piece today about the extent to which manufacturing just isn't "on the radar."  He has the following graph (see below, click to enlarge).


He says:

A tipping point may already have been reached. Manufacturing’s contribution to gross domestic product — roughly equivalent to national income — has declined to just 11.7 percent last year from as much as 28 percent in the 1950s, according to the Bureau of Economic Analysis. In this century, the 20-percent-or-more club draws its members mainly from Asia and Europe.

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