Question

In the 1970s, the U.S. economy began to shift away from manufacturers. Deindustrialization continued into the 1990s. Explain why this was so and who was affected by this shift. What were the benefits and other consequences of this shift?

Answer 1

Deindustrialization, is the process under which the massive social or economic change lead to eliminate the industrial activity. The steel and iron industries were demoted after shifting of manufacturing to South States which had cheaper workers.
It was cheap for companies to establish their factories in South America or asia than pay to workers in America. They used to produce good and products there and bring it back to domestic country.

Those companies were in favor of outsourcing instead of manufacturing in home country. The manufacturer and labour were highly affected by this. The economy were emphasised on different sectors like telecommunications or tourism etc.
The advantage was that a new and unique labour force was formulated and people were more focused in progress and growth of society. However, the disadvantage was that many people became jobless and because they didn't get training which cause them not be a part of new labour force.