In this last weekend prior to the US election I am reading a rather outstanding book titled “The New Industrial Revolution” authored by Peter Marsh. I would like to extract a few passages from this book while encouraging you to get it and read it.
“In 1750, the leader in global manufacturing was China, responsible for more than a third of the output, followed by India with a quarter.”
I thought that might put a few things into context for some of you. In 2010 for the first time since around 1900 China passed the US as the largest world manufacturing country. Some things can change but they might go back to where they once were again. India will soon surpass China as a result of the demographics of that country. The average age in India is 28 years old.
America has become a service country. This is the value added portion of the supply chains across the world. The major trouble with this change is the opportunity for the undereducated people in the country has become a challenge. In 1900 the choice for the undereducated was agriculture, in 1950 the choice was a production line, what has it become in 2000? To many it is the fast food Industry but few view that as a “career” choice. This is one of the many new challenges facing the next administration. Yes we need to revive the job creating engine that America once was by completely overhauling the tax codes for individuals and corporations by eliminating as much as possible any deductions from taxable income for both. This will deal a serious body blow to the lobby profession which has hijacked the government from the people. Next we need to reexamine the use of the regulation. Regulations are not necessarily bad things but they need to be measured against the impact on the economy and on peoples’ lives. Next we need to become resource independent. That way we can control more of our lives and not be beholden to others.
American ingenuity is a wondrous thing. America seems to have the capacity to reinvent herself about every twenty years or so. We need a new iteration now and it is none too soon. The time is now.