Mokyr argues a culture of inquiry led to the Industrial Revolution and staggering economic growth. Where are we now in America? A comparison to Industrial Europe and Qing-era China through Mokyr’s lens of Culture and Growth.
Leave a CommentTag: Manufacturing
WSJ reports that Taiwan Semiconductor Manufacturing Co., the world’s largest contract manufacturer of silicon chips, would spend $12 billion to build a chip factory in Arizona. I have been arguing on this blog for sourcing suppliers closer to the customer location (my first research paper was on dual sourcing and near sourcing) and building more plants in the US. So, I view this development as good news, but with a fair amount of caution. It is frustrating. News reports always seem to score these decisions based on how the political benefit will play out and this WSJ report is no exception. (This is an election year in the US. Which year isn’t an election year? In addition, US Senator McSally…
Leave a CommentHere is a New York Times article by Farah Stockman that focuses on the story of a steelworker Shannon Mulcahy who had to go through the unenviable task of training her replacements when her job was outsourced to Mexico. It is good to see that journalism is alive and well. Stories that focus on one person are illustrative in the same way as business school case studies that focus on a firm. Shannon especially represents the admirable traits of every-day Americans: charity and decency. Outsourcing decisions are terribly fraught with real human costs, especially when there are few other economic opportunities for those whose jobs are outsourced, with no political solution on the horizon. I wanted to mention a few points that…
Leave a Comment