Manufacturing, economists say, is the key to our nation’s economic recovery.
Perhaps it’s time for a re-think of “Death of a Salesman.” After two decades of talk about the “new economy” and the “disruption” of certain professions by the Internet, you might think that sales as we know it is as stale and outdated as Willy Loman — a function that has been “disintermediated” by the digital revolution.
The “konditorei” in Sankt Florian, Austria offers fine pastries and wonderful hot chocolate. It was the perfect location to interrupt a holiday for a bit of work. Over a slice of strudel, I spent a few minutes last week contemplating my colleague Andy Mukherjee’s well argued article about the danger robots pose for the modern economy. Looking around the bakery-cafe, I saw why Andy should be proven wrong.
The September jobs report ignited a firestorm when Jack Welch, former General Electric chief executive officer and Reuters contributor, asserted (or implied, or wondered if) the unemployment rate had been politically doctored to give President Barack Obama an electoral advantage. After all, how can the unemployment rate drop a full 0.3 percentage points to 7.8 percent when the economy is creating only 114,000 jobs?
Update: The December job numbers released this morning continued the same trend described in yesterday’s column. Of the 200,000 new jobs created last month, 78,000 – or nearly 40 percent -- were in transportation, warehousing and retail, sectors known for low pay and seasonal hiring. In a far more positive sign, manufacturing gained 23,000 workers in December after four months of little change. A vast expansion of that trend would benefit the middle class tremendously.
By David Callahan
The opinions expressed are his own.
Top Republicans have a simple answer to surging public concern about America’s vast wealth divide: More income mobility. “We want success for everybody,” House Majority Leader Eric Cantor said last week, adding that Americans shouldn’t “excoriate some who have been successful.” This remedy for economic unfairness taps into the popular American belief that public policy should ensure equality of opportunity, not outcome.