How to earn a living

Jeff Immelt, boss of GE, the World’s largest manufacturing company, has been talking at the London Business School.

He is convinced that in the US  “a 30-year transition from a manufacturing export-led economy to an importing service-based one typified by the growth of Wall Street is over and has left America damaged“.

He believes that the workings of the world economy have been “reset” and are moving onto a new pendulum swing which will see the future dominated by new levels of government intervention, new markets and new technologies based on good old research and development.

I think he’s right and that’s a problem for UK plc.   We are good at inventing new things (at least we think we are!) but commercialising those inventions is something that Britain has been poor at (with honourable exceptions) for 100 years and more.

So how will we earn our living in the future now that banking and finance isn’t looking like such a good bet?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: