Tuesday, April 28, 2015

Make Knowledge, Not Widgets

Zero manufacturing employment: Coming soon to a regional economy near you.

Theme: Economics of knowledge production

Subject Article: "The pioneering continent: Innovation is increasingly local."

Other Links: 1. "The life, death, and rebirth of BlackBerry’s hometown."
2. "Silicon Valley Is Already Dead: Waterloo's tech boom went bust, revealing the rise of the intangible economy."

Postscript: "Does Rust Belt Manufacturing Have a Future?":

However, it should be obvious that we cannot run an economy by giving each other haircuts or exchanging chats and photos. Information has no value in isolation. Uber is worthless without cars, Airbnb worthless without housing.

Michigan Ross Professor Bill Lovejoy has the value trend backwards. The worth of a good is less and less about the manufactured product. Which means manufacturing companies must find ways to reduce labor costs in order to be profitable. See agriculture.

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