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manufacturing industry

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manufacturing industry

Industry that involves the processing of raw materials or the assembly of components. Examples are aluminium smelting, car assembly, and computer assembly. In the UK many traditional manufacturing industries, built up in the Industrial Revolution, are now declining in importance; for example, shipbuilding. Developing countries may lack the capital (equipment and money) and expert knowledge necessary for these industries.



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At a certain stage in the development of these means of production and of exchange, the conditions under which feudal society produced and exchanged, the feudal organisation of agriculture and manufacturing industry, in one word, the feudal relations of property became no longer compatible with the already developed productive forces; they became so many fetters.
 
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