U.S. Manufacturing: The Engine for Growth in a Global Economy

(Hardback)

Publishing Details

Classifications

Physical Properties

Description

Evolving rapidly from a mass-produced product orientation to a flexible, solutions-oriented model, the changing manufacturing sector is poised to lead a global economic recovery. Truly an insider's guide to the future of this critical sector, this book provides policy recommendations based on a wealth of information. Despite the appearance of difficult economic times for U.S. manufacturing, that sector of the American economy is actually the most innovative and competitive in the world. Far from being confined to the tired stereotype of Industrial Age commodities, such as steel and mass-produced consumer products, U.S. manufacturing has long been an engine for growth. In the 1990s, this central role was strengthened as new technology development and application spurred higher levels of growth throughout the economy. In its present configuration, manufacturing includes such high-tech industries as fiberoptics and microchips. Globalization has accelerated the growth of the manufacturing sector by increasing competitive pressures to cut costs and develop new products faster, spreading out the fixed costs of R&D and investment. Truly an insider's guide to the future of this critical sector, this book provides policy recommendations based on a wealth of information. Evolving rapidly from a mass-produced product orientation to a flexible, solutions-oriented model, the changing manufacturing sector is poised to lead a global economic recovery. But it can do so only if the right policies are in place in the United States. To that end, the editors of this volume recommend fiscal and tort reform, higher educational achievement, and continued deregulation. At the international level, further trade liberalization and steps to reduce the trade deficit are recommended to ensure the staying power of U.S. competitiveness, particularly for technology-intensive industries.

Reviews

"A succinct yet comprehensive overview of the future for U.S. manufacturing. Anyone who thinks the best days of the U.S. industrial sector are over should read this book."-The Honorable Barbara Hackman Franklin Former U.S. Secretary of Commerce, President and CEO, Barbara Franklin Enterprises
"A valuable manuscript and its analysis is well supported by the evidence. It is a substantial and illuminating contribution."-William J. Baumol Professor of Economics, New York University
This volume provides a comprehensive analysis of the essential role of the manufacturing sector of the US economy. The increase in the relative importance of the service sector and the globalization of manufacturing has tended to dull the image of US manufacturing....This volume contains much useful data that has been condensed into tables and charts to provide support to the reader without interrupting the flow of the text. It affords manufacturing the recognition that it deserves, recognition that has been taken for granted to a large extent. Useful endnotes and bibliography. Highly recommended. Public; academic, upper-division undergraduate and up; and professional library collections-Choice
"This volume provides a comprehensive analysis of the essential role of the manufacturing sector of the US economy. The increase in the relative importance of the service sector and the globalization of manufacturing has tended to dull the image of US manufacturing....This volume contains much useful data that has been condensed into tables and charts to provide support to the reader without interrupting the flow of the text. It affords manufacturing the recognition that it deserves, recognition that has been taken for granted to a large extent. Useful endnotes and bibliography. Highly recommended. Public; academic, upper-division undergraduate and up; and professional library collections"-Choice

Author Bio

THOMAS J. DUESTERBERG is President and CEO of Manufacturers Alliance/MAPI Inc. He previously served as Senior Fellow and Director of the Washington, D.C., office of the Hudson Institute. Prior to that he was Assistant Secretary for International Economic Policy at the U.S. Department of Commerce. ERNEST H. PREEG is Senior Fellow in Trade and Productivity at Manufacturers Alliance/MAPI Inc. Prior to that he was Executive Director, Economic Policy Group, White House Staff, and held the Scholl Chair in International Business at the Center for Strategic and International Studies.