Wednesday, January 28, 2009

Manufacturing Renaissance

In The Economist's, The World in 2009, Sir John Rose, Chief Executive of Rolls Royce writes:

"... manufacturing brings huge benefits. It penetrates the economy of the whole country... It pays well... stop treating manufacturing as a relic of the industrial revolution.High value-added but avoids bewildering distortions of income. It drives and enables a broad range of skills and stimulates the growth of services. In short, it creates wealth."

Even though Sir Rose speaks specifically to the British economy, yet his excellent article "Made in Britain" here applies to all the developed countries with lessons for the developing ones.

It is also interesting to note that Sir Rose specifically calls out the nuclear industry as ripe of breakthrough stating specific to Britain:

"If we can become a nuclear "first mover" we will develop our nuclear capability and supply chain, enabling us to benefit from a growing global market."

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