Political Economy of Manufacturing: Conventional and Nonconventional Practices in the Global Context

Abstract

This paper examines the intricate interplay between political economy and manufacturing practices, encompassing both conventional and nonconventional methods in a global context. It explores how political and economic factors shape manufacturing strategies, with a focus on technological innovation, labor dynamics, sustainability, and regulatory frameworks. Comparative case studies highlight disparities between developed and developing economies, revealing distinct approaches to industrial policies and their impacts on economic outcomes. The findings underscore the importance of balancing traditional manufacturing strengths with advancements in Industry 4.0 technologies to enhance competitiveness and sustainability. Policy recommendations advocate for strategic government interventions that promote innovation, support workforce adaptation, and foster international collaboration in manufacturing sectors.