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In the 1970s, a new word, deindustrialization, was invented to refer to the rapid restructuring of national, regional, and urban economies. Technological advances in production processes, such as the use of robots for assembly, made it possible to produce goods with far fewer workers than in the past. In the 1970s and 1980s, although the volume of production increased, the number of manufacturing jobs fell in many places. Deindustrialization also occurred because factories left urban regions. The exodus of firms occurred more rapidly in the United States than elsewhere because companies reaped tax advantages for doing so. Firms began to move from older metropolitan areas to such places as the Caribbean, Latin America, and Asia, where wages were much lower and environmental regulations were lax. ...

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