Premature deindustrialization: the new threat to global economic development | Vox

The economies of the United States and other rich countries are often characterized as “post-industrial,” meaning they’re developed to the point that most of their citizens work in the service sector rather than in factory assembly lines.

In the popular imagination, the old industrial landscape has moved abroad to Mexico or to China, perhaps due to bad trade policies or simply the vicissitudes of changing circumstance.

The good news is that the migration of factory work to much poorer countries has been a boon to those countries’ economic development, helping spur an unprecedented decline in global poverty.

The bad news is “premature deindustrialization,” in which countries start to lose their manufacturing jobs without getting rich first.

Read more: Premature deindustrialization: the new threat to global economic development | The new new economy

Don’t forget to share this via , , Google+, Pinterest, LinkedIn, Buffer, , Tumblr, Reddit, StumbleUpon and Delicious.

Mike Rawson

Mike Rawson has recently re-awoken a long-standing interest in robots and our automated future.

He lives in London with a single android – a temperamental vacuum cleaner – but is looking forward to getting more cyborgs soon.

Leave a Reply

Your email address will not be published. Required fields are marked *

Premature deindustrialization: the new threat to global economic devel…

by Mike Rawson time to read: 1 min
Hi there - can I help you with anything?
[Subscribe here]
 
More in Economics, News
Kiva robots
How Amazon Triggered a Robot Arms Race – Bloomberg

An Amazon warehouse is a flurry of activity. Workers jog around a manmade cavern plopping items into yellow and black...

Close