Manufacturing’s declining share of output isn’t a sign of economic weakness—it’s just the opposite. It’s a sign that advances in manufacturing productivity and efficiency are translating into lower prices for consumers
Commoditize (v): The act of making a process, good or service easy to obtain by making it as uniform, plentiful and affordable as possible. Something becomes commoditized when one offering is nearly indistinguishable from another.
The famed management guru Tom Peters once said, "Do what you do best and outsource the rest." Thanks to low costs abroad, many firms have chosen to outsource much of their manufacturing capacity over the past few decades.
America is at a crossroads. Are we to become a "warfare/welfare state" or an "innovation nation"? By the way in which we choose to spend our resources and approach our greatest problems today we are making a choice for tomorrow.
In the wake of President Obama’s announcement that institutions of higher education were officially “on notice,” the typical and predictable fear mongering began. David L.