March 30, 2008
Should Our Economy Be Based On Invention?In light of the current credit crunch and global financial woes that seem to be largely a product of irresponsible lending and an economy based on banking (i.e, debt), should the UK go back to an economy based on people who make things?
I guess I'm not alone in thinking it, according to this article in the Times newspaper.
I think, though, that manufacturing these days is all about efficiency - and global competition can create a "race to the bottom", where international economies undercut one another, leading to sweatshops and other human rights abuses.
I suspect what we really need is an economy based on people who invent things.
Posted 13 years, 2 months ago on March 30, 2008