(IndustryWeek)
Mark C. Tomlinson, executive director and general manager of the Society of Manufacturing Engineers, wants to spread the good news. He issued the following statement:
“Month after month of depressing economic news has many hoping for a miracle to return the U.S. economy to its former glory. This miracle, however, won’t be found on Wall Street or on Pennsylvania Avenue.
“The miracle lies in U.S. innovation and manufacturing. After a decade of bankers gone wild, America needs create real wealth by making things rather than selling complex derivatives in the markets.
“The service and financial sectors just redistribute existing wealth. The twin powers of innovation and manufacturing actually create wealth. It goes back to Economics 101: wealth is created by taking materials of relatively low value and transforming them into products of considerable value. In other words, wealth comes from making things.
“U.S. manufacturing contributes more than $1.6 trillion to our GDP, and if it stood alone, it would rank as one of the top ten largest economies in the world. Despite continuing reports of its decline, U.S. manufacturing may be down, but it’s definitely not out. By far, the U.S., not China, is the world’s leading manufacturer by value of goods produced, and for every $1 of value produced in China, America generates $2.50. Read more here.
