For a brief time in the mid-1970s, a British economist named E.F. Schumacher changed the conversation across the Western world with a daring book entitled “Small Is Beautiful.” Schumacher argued that the push for endless growth was destroying the foundations of meaningful work, and it was doomed to fail. Although Schumacher died before he could develop his ideas, a center founded in his name has tried to continue his legacy. Might his message be even more timely today?
Now that manufacturing wages in Asia are starting to rise, some U.S. industries have started to bring their businesses back to our own shores. Many others remain skittish, however—of our tighter regulatory environment, of the high cost of U.S. labor, and of the paucity of workers who know how to make things anymore. Can that spiral be reversed?
In early 2018, after the release of a positive national jobs reports, some experts said the glowing numbers couldn’t be trusted, and actually indicated a “wage-less recovery.” No wonder. For the last few decades, both the private and public sectors have gradually weakened the support structures that have nurtured the American workforce for generations. Two experts connect the dots on this new dilemma, and look for solutions.