Has the decline of knowledge work begun?

What I worry a lot more instead is how knowledge of manufacturing and engineering could be lost due to our greed.

Typical scenario: Industry I is not doing fine in country C (i.e. the fund managers are not happy about lack of growth of the public companies in this sector) due to reasons R1, R2, ..., Rn. Then management decided to outsource and eventually dismantle the factories to "globalize" it. Knowledge retained by the older generation of engineers, technicians and workers were completely lost when they passed away.

This is a huge deal in some industries even today. Such as film photography. No one makes 35mm cameras although it would be all too easy to rehash a good 90s point and shoot model and have it sell like hotcakes (see prices/hype on olympus mjuII). No one even makes or services lab scanners anymore; all those noritsus and fronteirs for pro lab scans are approaching 30 years old and nothing is even close on the market or could even catch up to what went on in terms of R and D building these machines for a seriously profitable industry at the time.

Film has been getting increasingly popular. Local film labs are busy and new ones are opening. It is the vinyl record of imaging. Yet despite this, kodak and fujifilm have responded as most lack of forsight businesses do and cut film stocks, raised prices, constantly trying to squeeze more blood from the stone which goes on to kill growth in the industry vs supporting it and fostering actual growth and more profits more than 1 quarter out.