These are the pillars that hold up and support substantial economies – they’re certainly what the US economy was built upon. All other services – banking, shipping, financial – are there to support those pillars.
Not the other way around.
I just read an article that reminded me of this, that examines Germany’s strong turnaround based on manufacturing – Germany’s New Boom: Making Money By Making Stuff.
But we still hear some industry, economic and academia pundits talk about ‘post-industrial.’ Why is this tangible fact so difficult to understand? Is it wishful thinking? Is it the hope of those academics and economists that it isn’t so any longer? Perhaps. But we’re decades – at least – away from us 3-D printing coffee makers and lawnmowers in our basements.
I realize fully the disruptions and seismic impact on people and businesses when economic plates shift. It’s painful for many ‘em. And there are remarkable opportunities for some as the masses catch up to those shifts. And once they do catch up, we all take a deep breath, enjoy the fruits, and when the next change comes we act as though we’ve never been through it before.
And so it goes.
But to simply THINK it’s happened doesn’t make it so – particularly when the pundits that pull strings and support speculative behaviors haven’t ever run a lemonade stand.
We must create and commit to a comprehensive manufacturing policy in the US that understands where weatlth is STILL created – simply put, services thrive from the wages paid to workers in agriculture, mining and manufacturing. Not the other way around, no matter what you THINK is happening.
We have to focus on making valuable, tangible & useful things again. We have to focus on real wealth, not stealth wealth.
Thinking anything else is just whistling past the graveyard.