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Real-time control of the industrial…

Real-time control of the industrial enterprise

by Peter Martin

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Here is something you may not know. Almost all the productivity gains of the last 50 years have not come from better chemistry or better design. Yes, there have been advances in chemistry, in materials, even in biology. But these advances have not by themselves increased general productivity, nor have even better management and financial controls, nor the ubiquitous MBA graduates and sophisticated financing instruments. Not even entrepreneurship in the heyday of Silicon Valley created huge productivity advances. And certainly, the relocation of many business units offshore produced only a limited, and possibly wrongheaded, accounting improvement in productivity, which has declined as wages and working conditions in Asia and Latin America have improved.… (more)

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