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It is this thinking that runs counter to traditional manufacturing wisdom, in which it may be considered dumb to spend more to extend a product's life.
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Google, for example, is challenging conventional wisdom and manufacturing new mobile devices here in the United States.
Perceived wisdom is also that manufacturing disappeared under Thatcher.
The cyber-physical systems of Industry 4.0 are expected to generate vast amount of in-process data and revolutionise the way data, knowledge and wisdom is captured and reused in manufacturing industries.
It is introduced the concept of organizational wisdom, as an intelligence level that allows manufacturing enterprise to take sustainable decisions.
This may help explain the conventional wisdom, which is that China excels as a manufacturing country and as a market for goods, but not as an innovator.
This White House view that the government can — and must — support manufacturing relative to other businesses is a profound shift in the conventional wisdom of the English-speaking world.
Yet economists have been less star-struck, clinging to the received wisdom that has prevailed since the industrial revolution: modernisation runs from agriculture through manufacturing and only later to services.
Since the days of Margaret Thatcher and Ronald Reagan, the received trans-Atlantic wisdom has been that state intervention is an inevitable failure, that the decline of manufacturing is inevitable, too, and that service-sector jobs can be just as good anyway.
She clearly delighted in manufacturing these perplexing or gnomic shards of literature, running through various styles and periods, at once "discovering" wisdom and mocking sententiousness.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com