The manufacturing debate: Why most economists get it wrong
Автор: Research Intelligence Unit
Загружено: 2025-07-25
Просмотров: 517
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Manufacturing has long been dismissed as just another sector in a post-industrial world. But what if it's actually the foundation of a vibrant economy? In this episode, we challenge the prevailing academic consensus that downplays manufacturing’s role, and argue that it remains the most critical sector in driving economy-wide technological development, employment and incomes, while providing resilience to external shocks.
From China’s rapid ascent through state-directed industrial policy to the US’s decades-long decline in industrial capability—only now being reversed by bipartisan efforts under both Trump and Biden—we trace how manufacturing determines a country's economic fate. Finally, we bring the debate home to Sri Lanka. We explain how, contrary to the popular narrative, its 2022 economic crisis was fundamentally caused by the country's neglect of manufacturing, and why there continues to be such a strong resistance among academics and policy makers to go down the manufacturing path.
#ManufacturingMatters #industrialpolicy #economicresilience #TechDrivenEconomy #PostIndustrialMyth #globaleconomy #chinamodel #usmanufacturing #economicdevelopment #policydebates #SriLankaEconomy #SriLankaCrisis #MakeInSriLanka #SriLankaManufacturing #BuildSriLanka #IndustrialSriLanka #RethinkEconomics #HiddenTruths #EconomyExplained
#FutureOfWork #GrowthEngine #SmartEconomics
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