Category Archives: Economics in Brief

Bring Back Manufacturing Jobs

Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation, Adjunct Professor(ret.), Ross School of Business, University of Michigan.

President Trump promised that he will bring back manufacturing jobs that in recent years moved to other more “competitive” countries. That is a great objective for our employment and economic expansion.

I wish him success.

In late 2012 I wrote a book titled “Th Technology Imperative: What Jobs! Jobs! Jobs! Really Means in the 21st Century”

Here are issues addressed in my book. Certain brief summaries have been posted and the others will be posted.  The linkages are shown just under the headings.

  1. Some Things Are Not Reversible  http://businessthinker.com/some-things-are-not-reversible/
  2. To Solve a Problem, First Define It
    http://businessthinker.com/to-solve-a-problem-first-define-it/
  3. Forget planned obsolescence; it will happen, planned or not
    http://businessthinker.com/forget-planned-obsolescence-it-will-happen-planned-or-not/
  4. The other elephant in the room (and every room in the whole world)
  5. Why progress always ‘puts some people out of work’
  6. Manufacturing, despite all that, remains crucial to our economy
    http://businessthinker.com/manufacturing-despite-all-that-remains-crucial-to-our-economy/
  7. Education isn’t everything, but it’s close
  8. So can we ‘define the problem’ now?
  9. The problem defined
  10. Avoiding dystopia
  11. In addition to bringing back jobs here is a suggested solution for expanding our economy and maintaining improving employment:
    http://businessthinker.com/a-new-economic-growth-corporation-the-egc/

Reference:

“The Technology Imperative: What Jobs! Jobs! Jobs! Really Means in the 21st Century”, John Psarouthakis, Gavdos Press, October 2012.

Contact via email:   drjohnps@hotmail.com



Manufacturing, despite all that, remains crucial to our economy

Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation, Adjunct Professor(ret.), Ross School of Business, University of Michigan.

Let me recap the ways one might, at a glance, think of the manufacturing sector as having become an afterthought in sustaining America’s future as a prosperous nation, a place where quality of life is high, and a place that is the world’s destination of choice.

First, manufacturing for decades has not, and never again will, directly employ Americans in anywhere near the numbers it used to, and those it does employ will increasingly need more skills. Second, the rest of the world will always be able make things as well as us, and cheaper. That ought to be enough to seal the idea that manufacturing has become deadwood? Wrong. The first point is true, but surprisingly irrelevant. The second point is simply false.

Keeping high-tech manufacturing in this country when possible even if the direct workforce shrinks drastically, because otherwise the technology will tend to flee offshore, along with the factories. Innovation has always been America’s strong suit in the global economy. Meanwhile, the R&D surrounding even a shrunken manufacturing sector is itself an important source of employment—as are the host of vendors serving manufacturers. Our great educational establishment is the world’s model, but on the vital science and technology side needs to be near a prosperous industrial, commercial, health-care, and pharmaceutical infrastructure in order to remain great.

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Forget planned obsolescence; it will happen, planned or not

Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation, Adjunct Professor(ret.), Ross School of Business, University of Michigan.

Millions of American “smokestack” jobs no longer exist. Millions of other American jobs, from nearly every sector, have been exported. Tens of millions of Americans are now sustained only by the “safety net,” or by working multiple part-time jobs at low wages with no benefits. More than one-quarter of working Americans lack enough resources to sustain themselves three months if laid off, a number that no doubt has risen since it was last compiled. This is a very, very bad time to be an unskilled worker with no prospects of being retrained in a way that will land a job. A human being whose skills are obsolete is among the saddest of stories. Some of these Americans, especially older workers, are going to be left behind. Millions more will never earn the kind of living they once did. This states one hellacious problem; but it does not define the problem in any useful way for a problem-solver.

In getting one’s arms around what might seem like an unprecedented catastrophe, it’s good to start by realizing that today’s displaced workers are not alone in the American experience. Our workforce is undergoing massive transition, a tectonic shift, really, in the way Americans earn their livelihood. But it is not unprecedented.

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