There are arguments on the other side of course: manufacturing indices are regularly compiled so we have decent enough data.
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Early in his scribbling career, Croesus was fortunate to have been taken up by one esteemed Harvard Business School professor Georges Doriot, a wise Frenchman who taught a course on manufacturing, not financial engineering, and so influenced generations of Harvard M.
Every company tries to streamline manufacturing and supplier networks, of course.
This may not be too terribly useful for the average home user, but for the tablet PC market doing all the buying right now (healthcare, manufacturing, and retail, of course) it drives down cost, ups reliability and security, and actually makes the generally ho-hum specs of the machine something a little more of a powerhouse on its new platform.
As you can see from both the charts manufacturing output (and yes, of course this index is inflation adjusted) has continued to grow over the decades reaching a peak just before the Great Recession and it has slumped since.
Many things human beings do are like that, of course: catching fly balls, manufacturing microchips, delivering overnight packages.
Steve Denning has a great article elsewhere on Forbes about Apple and GE bringing manufacturing back to the USA. But in the course of the article Steve also lets slip why, even if it is good news, it is not as important as we want it to be.
FORBES: Does It Matter That Apple and GE Are Bringing Back Manufacturing?
Of course, these trends do not mean all manufacturing will come back to America.
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Of course, this is about the time that profits from manufacturing PCs started to collapse and margins become very thin indeed.
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Over the course of the recovery, truckers had been powered by sustained strength in manufacturing, even while stagnation in employment and a plateau for consumer spending threatened to derail the shipping segment.
Of course, the ADP Employment Report is also out on Wednesday, followed by the PMI Manufacturing Index and then the ISM Manufacturing Index.
So, not only is manufacturing not down as in usual cycles, it is up quite handsomely for many products, except of course for automobiles, which are not just in a recession but facing a depression.
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