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Books > Business & Economics > Business & management > Ownership & organization of enterprises
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The Factory-Free Economy - Outsourcing, Servitization, and the Future of Industry (Hardcover)
Loot Price: R2,323
Discovery Miles 23 230
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The Factory-Free Economy - Outsourcing, Servitization, and the Future of Industry (Hardcover)
Series: Studies of Policy Reform
Expected to ship within 10 - 15 working days
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De-industrialization, accelerated by the financial crisis, is a
long term process. The comparative advantage of emerging economies
shifted towards more advanced goods and their growing populations
commanded an increasing share in global demand. This shift towards
a factory-free economy in high income countries has drawn the
attention of policy makers in North America and Europe. Some
politicians have articulated alarming views, initiating
mercantilist or 'beggar-thy-neighbour' cost-competitiveness
policies. Yet companies that concentrate research and design
innovations at home but no longer have any factories there may be
the norm in the future. This volume proposes an economic analysis
of this phenomenon and includes 11 contributions which complement
each other and tackle the problem from different angles. The
evidence in this book suggests that de-industrialization is a
process that happens over time in all countries, even China. One
implication is that criticism of China is not likely to provide a
solution to these long term trends. Another implication is that the
distinction between manufacturing and services is likely to become
increasingly blurry. More manufacturing firms are engaging in
services activities, and more wholesale firms are engaging in
manufacturing. One optimistic perspective suggests that industrial
country firms may be able to exploit the high-value added and
skill-intensive activities associated with design and innovation,
as well as distribution, which are all components of the global
value chain for manufacturing. Although this ongoing transformation
of the industrial economies may be consistent with evolving
comparative advantage, it has significant short-run costs and
requires far-sighted investments. These include the costs to
workers who are caught in the shift from an industrial to a service
economy, and the need to invest in new infrastructure and education
to prepare coming generations for their changing roles.
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