The savings translate into billions of dollars in additional disposable income for consumers. To prove the point, the AMT recently set out to quantify the benefits of advanced manufacturing to the U.S. economy. Alan Hall , contributing technology correspondent to BusinessWeek Online, spoke with Carlson about the study. We keep hearing about the New Economy, but a recent study by the Federal Reserve Board says that only half of the recent gains in productivity can be attributed to computers and information technology. The pressure for global competitiveness has driven producers of every product to look at what they are doing, and how they are doing it, to become more efficient.
Nothing happens until that information reaches the factory.
The Old Economy is the New Economy. Manufacturing has played a key role by providing better products at lower costs. Today's manufactured products contribute to the economy by benefiting consumers and producers. First, manufacturing has not had the glitz and glamour that has been associated with computer-type industries. Much of the improvement comes from innovations in machine tools and related manufacturing technology.