Who could have foreseen this
That graph is wild, manufacturing output has been increasing massively since 1986?! Then where the fuck are the jobs?
Yeah, they must be counting some shit like “software development” as part of their American manufacturing figure, because it’s complete bullshit
It is.
Pharmaceutical, chemical industries, some high tech material … They also count assembly of parts in semi-automated factory for final product as manufacturing.
I’m not sure it’s cheating. It’s just that manufacturing means more than just steel and base products…
You can still have good manufacturing output but not be producing base products. It just means that you have a different import/export profile.
Just look at the us imports/exports, you’ll see what I mean…
Yes, not only that, I guess the number which represents output is just dollars. If they are producing a bigger proportion of luxury goods and less of regular goods, their output could be decreasing at the same time the revenue increases.
Regarding jobs, they could be importing goods from labor-intensive production processes and then assembling the parts and selling at a higher price, so this is why we don’t see the number of jobs increasing at the same time output increases.
In summary there is a lot of information that is simply hidden because the only variable they are analyzing is money.
That’s true.
In Canada, a lot of the “value” produced is just Canadian selling the same houses to each others at inflated prices, at breakneck pace.
It’s housing hypertrading, it’s Kafkaesque…
