Journal•ISSN: 0028-7806
New York Times Book Review
Cambridge University Press
About: New York Times Book Review is an academic journal. The journal publishes majorly in the area(s): Empire & Girl. It has an ISSN identifier of 0028-7806. Over the lifetime, 1472 publications have been published receiving 17535 citations.
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TL;DR: There is a lot of loose talk about the "deindustrialization" of the United States economy as discussed by the authors, but no such deindustrialization can actually take place, since there are too many goods and there are not enough services.
Abstract: There is a lot of loose talk about the “deindustrialization” of the United States economy. We are losing our manufacturing industry to foreigners and becoming a “service economy” (if you like the idea) or a “nation of hamburger stands and insurance companies” (if you don’t like the idea). Stephen S. Cohen and John Zysman begin their book, “Manufacturing Matters: The Myth of the PostIndustrial Economy,” by insisting, quite correctly, that no such thing can happen. The orders of magnitude are such that the United States could not hope to pay for its manufacturing imports by selling services abroad. We need too many goods, and there are not enough services. One way or another we will continue to be producers of goods, including manufactures, and probably net exporters of goods in order to pay interest on the debts we have incurred during the consumption binge of the 1980’s.
1,075 citations