Unraveling the lessons of Japan's first tech boom

High-tech start-ups, unconventional management, and a party atmosphere: it sounds like a scene from a modern business incubator, but it also describes Japan’s cotton-spinning industry in the late 19th century.

Should we be alarmed by the decline of US manufacturing?

By many measures, manufacturing in the United States has been regressing. Certainly along most any relative metric—share of domestic output and employment, share of world manufacturing, trade balances relative to the other large manufacturing countries—the sector has been shrinking for decades.