From the White House
Hey everyone, I'm a longtime reader first time poster. This may be old news to many of you but a week ago the White House posted the following video about the economy, job creation and the nature of work they project many US citizens will be doing in the next 5-10 years.
To it's credit, the Obama administration has done a wonderful job of using the ( Read more... )
To it's credit, the Obama administration has done a wonderful job of using the ( Read more... )
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At some stage of the game, IMHO, we do need to be producing physical goods, both for internal use and for export. BUT, and this is a critical point, we can't do it without education, which has been gutted over the last eight years, or infrastructure, which is falling down due to neglect over a much longer period of time. In a sense, we need the tools to make the tools to do the job. So those two areas are going to be critical to any economic growth we achieve. In addition, the number of births in this country has been climbing over the last few years. We'll need to educate these kids, some of whom have already started school.
Near the beginning of the video, there was a brief mention of industries that are likely to see growth. I submit that alternative energy research and other green initiatives may help us reboot our industry.
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Well, why not? This is what an information economy means; our focus has switched from manufacturing to services/entertainment/knowledge, just as it switched from plantation farming and cottage industry to manufacturing in the 1800s. Like it or not, heavy labor in the Developed World is now largely the province of machines...or migrant laborers and outsourcing from the Developing World.
As counter-intuitive as it sounds, immaterial things like "expertise" and "creativity" can have enormous value. That's what makes them a saleable product, even if you can't hold them in your hands.
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