Thursday, March 8, 2012

Rescuing America

The Main Street American economy  -- the place where middle- and working-class Americans live and work -- is in dire need of rescuing and the Obama Administration is working intently to rescue it.  

This rescue of the Main Street economy will take considerable time -- remember the Main Street economy, operating for almost 30 years under Republican economic policies, has suffered tremendous neglect during approximately 30 years .  Across the jump, via excerpts from several articles, you can read about the need to resuscitate the Main Street economy and the efforts of the Obama Administration and other leading institutions to rescue the Main Street economy of the United States.

The Need

The following excerpts, one from the Financial Times and the another from Manufacturing and Technology News, describe well the need to rescue the Main Street economy and the manufacturing base that serves the nation.

Financial Times:

While it is rational for one US multinational to move capacity offshore, along with the kind of jobs that once sustained cities, the collective effect imperils the fabric of American society – and ultimately its domestic market.
Manufacturing and Technology News (underscore emphasis added):

The study, "A National Strategic Plan for Advanced Manufacturing," lists a "sampling" of important defense technologies the U.S. is vulnerable to losing, including aircraft landing gear, large rotor disks for turbines, rocket engine parts, missile launch systems, unmanned aerial and ground vehicles, nuclear power components, fuselages, orbital vehicles, network routing and switching, optical data transport, advanced power electronics, composites and transmission conductors. The U.S. military is now completely dependent on foreign production for every phone, laptop and computer that it buys.

The Rescue

In addition to the efforts of the Obama Administration via economic, trade and tax policies, to rescue the Main Street, Harvard's Business School faculty, staff and alumni are undertaking efforts to rescue the Main Street economy.  The work of the HBS faculty, staff and alumni, under the as part of their U.S. Competitiveness Project, recently convened a Paths Forward on how to improve the competitiveness of firms operating in the United States.

As you ruminate on the information provided in and via this post, please keep in mind that the time to rescue the Main Street economy will probably take as long as or longer than it took for Republican economic, tax, trade and monetary policies -- approximately 30 years -- to debilitate it.

To read the details of the efforts to rescue the Main Street economy of the United States please follow the links incorporated in the body of this article and those enclosed below.

Gapper, John. "Business should help the heartland." Financial Times 7 March, 2012: online edition. (Registration required if not a subscriber.)

McCormack, Richard A. "Obama Will Unveil $1-Billion National Manufacturing Innovation Network Initiative Based On Germany's Fraunhofer Institute." Manufacturing and Technology News, Vol.19, No.3 28 February, 2012: online edition.

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