Manufacturing 2020: Rise of the Machines
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New York
THE United States-based think tank Economic Policy Institute estimates that the US lost five million manufacturing jobs between 2000 and 2014. This fact makes it obvious why this was a key topic in the recent US presidential election. But bringing manufacturing jobs back to the US isn't as straightforward as it may appear.
Since the millennium, the manufacturing industry has been evolving and progressing in the areas of manufacturing technologies and supply chain management capabilities. This has resulted in a reduced need for human labour and low-level technical skills as labour-intensive jobs are now being filled and managed by robots. Even with corporate tax reforms and industry deregulation, it is not possible to fully restore millions of manufacturing jobs in the US because it ignores the realities of technological advancements.
Copyright SPH Media. All rights reserved.
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