Editorial: Industry a must
June 18, 2011
To understand the keys to fixing this sagging economy, America must look to the productive periods of the country’s past. The key ingredient — it should come as no surprise — is getting back to producing things tangible. Technologic progress is an absolute, but industry must be its equal for a robust economy.
The future, it's been said, is merely history repeating itself.
When it comes to this languishing American economy, battered by uncertainty, sagging personal and business finances, and alarming unemployment rates, the Editorial Board certainly hopes that phrase holds true.
More specifically, we hope the booming economic periods of the 1950s and 60s someday become reality once again — preferably sooner rather than later.
Our country's backbone, the middle class, depends on it.
However, that's an optimistic outlook, and perhaps an overly optimistic one at that.
Our economy has had time to rebound from the financial crisis in 2008, and yet it remains limping along today, three years later.
What's the trend missing from those notable economic periods decades ago? Why hasn't our country been able to pull itself up by the bootstraps?
We lack production. We lack industry. We lack the vehicles through which we can put people to work.
Those eras history remembers so fondly were intertwined to our country producing things tangible — homes, cars, factories and products, among numerous others. Production creates goods and goods create a market and a workforce.
The economic trickle down effect isn't difficult to understand.
But, the world is changing rapidly, and so is the global economy, and industry has been left in the wake, to the hindrance of the economy and many workers and their families. There are technological breakthroughs and developments every day, and the ramifications are happening faster than anyone can understand.
If technology is going to be the new economic facilitator and engine, fine. It's a sign of the times. But, it's also imperative technology be partnered with a renewed development of industry, job creation and production.
The fact is, not every American is going to be a computer programmer. Not everyone is going to write code or develop apps.
Once upon a time, the blue collar worker was just as necessary as the white collar. For our economy to truly recover, that day must come again.
We used to make things in this country, things people wanted and needed. Now, we import from overseas.
Short of someday — and again, hopefully someday soon — getting back to that, we'll continue to see the growing disparity that exists today between the haves and have nots, the super rich and the utterly poor, and eventually the evisceration of the middle class that built this country.
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