Pretty much ten years ago, in April 2011, Industry 4.0 was first presented to the audience at the Hannover Messe in Germany. Industry 4.0 made lots of promises about everything getting better and easier. But, <surprise Pikachu>, it did not. Let’s have a look.
Manufacturing Drives Prosperity
Manufacturing is one of the drivers of modern prosperity. Most manufactured goods become cheaper and cheaper over time, adjusted for inflation. Services, on the other hand, usually become more expensive over time. In this blog post I dive a bit deeper into these changes, using the USA consumer price index as an example.