cstauffer

The Evolution of U.S. Manufacturing

I have read Marc's latest book two times over the last month and it is truely inspiring in light of all of the hand ringing that is occurring today about just how terrible our economy is and will be for the foreseeable future. That fact is that our economy has modernized greatly over the last several decade. As an economy, we have moved up the food chain as a manufacturer and service provider. The problem that we have is that our economy has moved up that food chain faster than our workforce has.

When you think about all of the life changing and world changing accomplishments that have been born from our domestic economy over the last 100 years, you cannot argue that our greatest strength is not basic manufacturing or providing low level services. The concept is not much different than the "highest and best use" assessment that a real estate appraiser performs when he or she appraises a commercial property. Our economy's highest and best use is not manufacturing toys and clothes or assembling technology equipment. Our highest and best use is evident when one looks around the world and realizes that it is American ingenuity that brought the world a vaccine against polio and anti-biotics, the semi-conductor chip, the airplane, and the internet. Without American entrepenaurship the world would not have products and services from McDonalds, Nike, Google, Microsoft, Coke, Caterpillar, Boeing, Apple, Disney, GE, as well as Pfizer, Merck, Johnson & Johnson, Bristol Myers and Amgen. We have what the world wants. The more affluent the developing world becomes, the more money that they will have to buy our products and services. We have the brands, the franchises and the innovative edge to disproportionately benefit from the the economic success of the BRIC countries.