Universal Machine Tools Make Flexible Manufacturing Systems More Efficient

Abstract

The free market principle in the United States has affected it’s economy tremendously. High quality, low cost imported goods are available in abundance and, hence, consumers have become extremely discerning in their choices. Local manufacturers have had to face this competition along with the added handicaps of higher labor costs and more importantly, lower productivity. These two factors have caused many firms to move abroad. This movement has two serious drawbacks, since jobs were not only being exported but the burden of generating real wealth for the country fell on fewer and fewer sectors of the economy. It is a well known fact that manufacturing is one of the real-wealth generating sectors of the economy.Thus, the United States was gradually losing it’s means of creating wealth.