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Growth Over Time - Coggle Diagram
Growth Over Time
Growth in the Future
Pairing existing manufacturing and current technological innovation
Seen in automation improvements and 3D printing
Industrial productivity should grow by 33%
Focuses on better productivity rather than more
More innovative and flexible
Production will take place in smaller scale, closer to home
Seen today in Biden's CHIPS and Science Act
Recent Growth
Been in a slump
Some attempts to revitalize have been made
Offshoring
Larger factories
Specialization
Introduced rigidity
Ex: Zara vs Gap
Productivity growth has been on the decline
History of Growth
Increased productivity leads to growth
Labor
Capital
Ex: industrial revolutions
Mass production model
Steam engine
First automation wave