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8
APR 10

Postmodern (postindustrial) economy is a con.




Many articles of this type are showing up around the developed economies, for the record New Zealand, like the UK still has the remnants of a capable manufacturing sector, it is not quite dead yet.  Maybe just in time we can stop it passing away of neglect. 

http://www.businessspectator.com.au/bs.nsf/Article/UK-innovation-manufacturing-industry-pd20100330-423BK?OpenDocument&src=kgb

An excerpt from the article:

"The country is waking up from the collective fantasy that once was ‘Cool Britannia.’ Its so-called postmodern economy now looks distinctly dated. British celebrities wear recession chic, managers mourn their stock market losses, and consultants have to make do without their huge bonus payments. Whatever happened to the hairdressers is anyone’s guess, and who knows what those other ‘bodily improvers’ were doing anyway?

Suddenly the British realise that it was perhaps a tad premature to wave goodbye to the old economy that actually produced things other than hot air. The same circles that used to feel smug vis-à-vis manufacturing reptiles like Japan and Germany are now debating how to develop a new industrial base in Britain. Given the sorry state of Britain’s secondary sector, this is much easier said than done. After an era of de-industrialisation, there is little left on which a revival of British manufacturing could be built.

The weight of Britain’s manufacturing sector has dropped dramatically over the past decades. In 1970, it accounted for almost a third of the UK economy. This has fallen to 11.3 percent in the third quarter of 2009. It was a steady decline where it hardly mattered which party governed.

Employment in manufacturing went down, too. In 1978, the sector employed 6.9 million people or 28.5 percent of all employees. The respective figures for today are just 2.6 million workers or 10 percent."

 

Makes you think - I hope.


 


tags: postindustrial, postmodern, real economy
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