| American policymakers are beginning to catch on: domestic manufacturing is in the midst of a new wave of innovation, and as a result has the potential to revitalize the economy.
A new report from the Economic Growth Program at the New America Foundation, entitled Value Added: America's Manufacturing Future, explains why retaining domestic manufacturing is centrally important to the health of the economy, how technology continues to transform manufacturing, and what policy options leaders in Washington can pursue to capture the benefits.
The authors of the report, Michael Lind and Joshua Freedman, argue that the next generation of manufacturing will continue to be crucial to the economy, but it increasingly will not resemble the typical mass-production assembly lines that many Americans associate with manufacturing. Instead, advanced manufacturing, aided by information technology, and servitization, or the integration of services and manufacturing, will define the future of American manufacturing.
The report offers recommendations to bolster and support manufacturing, ranging from public purpose financing for manufacturers to improved tax, energy, and regulatory policies. Smart public policy can ensure that the economy benefits from gains in advanced manufacturing gains for years to come.
The report is made possible with the support of General Electric. General Electric does not bear any responsibility for the content of the report.
To read the full report, click here.
To see more from New America's Economic Growth Program, click here. |
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