Summary of Enrico Moretti's The New Geography Of Jobs

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#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.

• Language: English
• Publisher: IRB Media
• Release date: Apr 29, 2022
• ISBN: 9781669399629

IRB Media

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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