Summary of Enrico Moretti's The New Geography Of Jobs

Everest Media

Description

Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 In 1946, American families were poor by today’s standards. But over the next three decades, American society experienced one of the most impressive economic transformations in history. Salaries and incomes grew at an astonishing rate. Consumption exploded at all levels of society.
#2 The engine that made all of this possible was an unprecedented rise in the productivity of workers. Because of better management practices and a tremendous surge in investment in new and more modern machines, an American factory worker in 1975 could produce twice as much for each hour worked as the same worker could in 1946.
#3 The decline of this engine of growth is staggering. Although the US population is now much larger than it was in 1978, there are half as many jobs in manufacturing as there were at its peak.
#4 The decline of manufacturing has affected many American communities negatively, as the jobs that were supported by it eventually leave the area.

Sujets

• Géographie
• Géographie
• Géographie
• Géographie
• General
• Business
• Economics
• General officer
• Career
• Employabilité, métiers et formations
• Careers
• Carrière
• Carrière & Mobilité

Informations

• Publié par: Everest Media LLC
• Date de parution: 03 mai 2022
• Nombre de lectures: 0
• EAN13: 9781669399629
• Langue: English
• Poids de l'ouvrage: 1 Mo

Extrait

Insights on Enrico Moretti's The New Geography Of Jobs
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3 Insights from Chapter 4 Insights from Chapter 5 Insights from Chapter 6 Insights from Chapter 7
Insights from Chapter 1

#1

In 1946, American families were poor by today’s standards. But over the next three decades, American society experienced one of the most impressive economic transformations in history. Salaries and incomes grew at an astonishing rate. Consumption exploded at all levels of society.

#2

The engine that made all of this possible was an unprecedented rise in the productivity of workers. Because of better management practices and a tremendous surge in investment in new and more modern machines, an American factory worker in 1975 could produce twice as much for each hour worked as the same worker could in 1946.

#3

The decline of this engine of growth is staggering. Although the US population is now much larger than it was in 1978, there are half as many jobs in manufacturing as there were at its peak.

#4

The decline of manufacturing has affected many American communities negatively, as the jobs that were supported by it eventually leave the area.

#5

The idea that Wall Street killed American manufacturing is a myth. The problems with American manufacturing jobs are structural and reflect deep economic forces that have been gaining strength over the past half century: globalization and technological progress.

#6

The clothing company Levi Strauss, which was founded in 1853, moved its American production to Asia in 2001. The company was not surprised because the garment sector is typical of the manufacturing sector as a whole. The design and marketing jobs that remain are few and not growing, while in the innovation sector the design and engineering jobs are numerous and growing fast.

#7

The effect of globalization on American blue-collar jobs is not the same everywhere. Some cities, like Providence and Buffalo, have experienced large negative effects from the increased competition. Others, like Washington, D. C. , and Houston, have experienced much smaller effects.

#8

There are some exceptions to the decline of manufacturing in America. High-end fashion, for example, is less sensitive to labor costs than other manufacturing sectors and depends more on where designers and skilled tailors may be.

#9

The idea of local production is interesting, but the fact is that these initiatives cannot be the answer to the lack of jobs in America. The number of jobs created is too small to make a dent. Furthermore, these jobs cannot be the driver of job growth for a community.

#10

The key insight of economists is that if each country concentrates on the industries in which it is relatively more productive, everyone wins. International trade has helped America become richer by billions of dollars.

#11

The expansion of superstores such as Walmart has also had a negative impact on low-income consumers. The principle of comparative advantage states that countries with different industrial structures have the most to gain from trading with each other, and the least to lose in terms of job losses.

#12

The United States still produces many physical goods, such as airplanes, industrial machines, and advanced medical devices. However, this is not true of many consumer products. As a result, American factories are more efficient than ever, and the need for manufacturing workers is decreasing.

#13

New industries are not immune to the same trends. The computer manufacturing and semiconductor manufacturing industries have been declining in employment for a decade.

#14

The malaise affecting the American manufacturing industry is not limited to electronic products. The production of PCs and semiconductors has become much less labor-intensive, and the assembly and manufacture of many parts has moved abroad.

#15

The labor market is becoming hollowed out, as it is losing its middle. The number of jobs in professional, technical, and managerial fields has increased while the number of jobs in food service, personal care, and security service fields has decreased.

#16

We spend the majority of our lives at work. The job market has been bad for a long time, and there are no signs that it is about to change in a positive way.

#17

The arguments of the manufacturing activists ignore the simple fact that the forces that have caused the decline of manufacturing are difficult to stop.