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In Defense of Manufacturing

In: Who’s to Blame for Greece?

Author

Listed:
  • Theodore Pelagidis

    (Bank of Greece and University of Piraeus)

  • Michael Mitsopoulos

    (Hellenic Federation of Enterprizes)

Abstract

A relatively recent IMF publication is not the only voice that suggests the possibility of achieving prosperity and growth in the modern age without the need to have a strong manufacturing base. Like agriculture before the industrial revolution, “making things” appears to take the back seat as services, and in particular knowledge-intensive services that determine “how to make things” take over as growth drivers. Of course, the trends of progress are irreversible, and “making things” will constitute a shrinking part of employment and possible value created. The latter will most likely be even truer if one cannot separate perfectly the value of incorporated services, as the knowledge content of the “things made” and the incorporated services build their own complex interactions and grow exponentially.

Suggested Citation

  • Theodore Pelagidis & Michael Mitsopoulos, 2021. "In Defense of Manufacturing," Springer Books, in: Who’s to Blame for Greece?, edition 3, chapter 0, pages 343-367, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-64081-1_15
    DOI: 10.1007/978-3-030-64081-1_15
    as

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