Deindustrialization is the move away from industrial production in an economy, often caused by outsourcing labor-intensive jobs to countries with cheaper labor. The shift from manufacturing to service-oriented jobs is also a cause. The concept of the “information economy” has emerged due to improvements in digital and communication technology. Deindustrialization refers to a move away […]

Deindustrialization is the shift away from manufacturing production in an economy, often caused by outsourcing of labor-intensive jobs to countries with cheaper labor. The service sector, including jobs providing a service rather than creating a product, is a common replacement. Industrialization, on the other hand, is the movement towards an economy organized around industry, such […]