The 1970s therefore set the stage for the lengthy slump in manufacturing profitability that has since been the baseline of advanced economies. A period of healthy manufacturing growth in the United States began when the dollar was devalued in the Plaza Accord (1985); but manufacturing slumped again when the yen and the mark were devalued over fears of Japanese collapse. And, while economic growth recovered from its 1970s lows, nevertheless the G7 countries have all seen both economic and productivity growth trend downwards.

Nick Srnicek, Platform Capitalism, loc. 27