Bertrand Duperrin's Library tagged manufacturingeconomy →  View Popular, Search in Google

"Michael Porter has done us all a service in identifying that the wealth of modern economies comes from the productivity, innovation and high wages found in their clustered industries — those industries that are found only in certain geographic areas and trade most of their output outside their home areas, both nationally and internationally. Wages in these clustered industries (like pharmaceuticals or business services) are dramatically higher than in dispersed industries (like primary medical care or consumer services)."

work creativity economy jobcontent routine manufacturingeconomy serviceeconomy

I think that although we may well experience the two sequential down quarters of growth that would put us officially into a “Recession,” it will mask the reality that we are in (not “entering”) something different.

There really is a global economy so that ecoonmic conditions are also global. Want to build a business? Leverage your brain instead of capital-intensive property, plant and equipment (soft vs. hard assets). The list goes on. It isn’t hard to observe all sorts of fundamental changes that I think point to a conclusion that the Knowledge Economy is real and growing and fundamentally different than the Hard Asset Economy from which we are moving.
If we are indeed shifting from a Manufacturing to a Knowledge economy, wouldn’t it be fair to say that the characteristics of one (such as an economic downturn defined as a “recession”) would not be characteristics of the other? Didn’t the characteristics of agraian economies largely become irrelevant to enterprises involved in manufacturing?

recession knowledgeeconomy manufacturingeconomy growth