The economic recovery: Not quite what it seems

Posted: February 27, 2015 in economy
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The economic recovery


Talk of a renaissance in American manufacturing is overblown



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AT A gleaming Rolls-Royce factory in Indianapolis (pictured), a team of workers produces “LiftFans”, gadgets that help fighter planes take off and land without needing much of a runway. This plant is a far cry from the hot, smelly, noisy places that people normally associate with manufacturing. Workers in goggles hand-build the LiftFans, which sell for millions of dollars, with the help of state-of-the-art machinery. Computers quietly hum. The atmosphere is disarmingly serene.
America has some of the world’s most impressive manufacturing facilities. But talk of a “renaissance” is certainly overblown. Growth is being driven by a small number of industries, which are hiring few new workers. And even …<div class="og_rss_groups"></div>

via Economic Crisis


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