Behind the Curve Can Manufacturing Still Provide Inclusive Growth? by Robert Lawrence

Behind the Curve Can Manufacturing Still Provide Inclusive Growth? by Robert Lawrence

Manufacturing jobs, once the backbone of the modern US economy, have declined as a share of GDP over recent decades, darkening opportunities for middle-class advancement. Similar trends have impacted export superpowers like China, Germany, Japan, Singapore, and South Korea. Driven by nostalgia for a bygone era, however, many countries have turned to reshoring and "industrial policies" to revive manufacturing employment. In this book, Robert Z. Lawrence argues that these efforts are unlikely to succeed. He demonstrates that deeply rooted forces common to all countries--technological change, shifting consumer spending patterns, and trade--account for lagging manufacturing employment and that these trends are unlikely to be reversed. The industrial sector's historic role as an engine of opportunity and inclusive growth is unsustainable. Government efforts to promote manufacturing to achieve goals such as industrial self-sufficiency, green transitions, and digital technologies, however well intentioned, may even make economic growth less inclusive. Instead, new policies are needed to help people, places, and countries cope with inevitable changes in the composition of employment.

SKU	Unavailable
ISBN 13	9780881327472
ISBN 10	0881327476
Title	Behind the Curve Can Manufacturing Still Provide Inclusive Growth?
Author	Robert Lawrence
Condition	Unavailable
Binding Type	Paperback
Publisher	The Peterson Institute for International Economics
Year published	2024-08-27
Number of pages	314
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.