Obsolete Industries Won’t Drive Economic Growth

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This is absolutely right.

Earlier today I was at the Energy Innovation Summit 2013 in Washington DC. I listened to nuclear folks, and wind folks, and solar folks, and natural gas folks. The box lunch was OK. The prescriptions for future energy policy were for the most part very heavy on the government intervention side. (Which is to be expected at any industry conference in Washington DC.) But as I sat there it did occur to me that I should encourage my children to at least consider a career in engineering.

My father is an engineer and he can’t hire enough of them out of college. These are very high paying jobs, right out of the shoot.

The factory line job is gone. Unless one wants to work for less than the cost of a robot. This is just a fact.

Opportunities in new parts of the economy abound however, even in the current economic environment,  for those with the right skills.

(From Manufacturing.net)

This is the most elegant manifestation of the free markets. The markets dictate the obsolescence of legacy technologies and industries (at the appropriate time, and not a second before), and savvy individuals climb aboard the train or get left behind.

Click here for the article.