Former Treasury Secretary, Larry Samars, said that the idea of Ford CEO Jim Farley on the “Basic Economy” is a good concept because it does not focus narrowly on the factory’s work only.
In the midst of fears that AI will erase large areas of white collars, Farley highlighted the shortage of blue -colored professions, which puts the unparalleled need in about a million jobs, as many American schools, families and policy have neglected the basic economy.
He even recently revealed His son worked as a mechanic this summer He wonders about the need to join the university.
In a conversation Interview on Bloomberg TV Wall Street WeekSummers note that Varley was not installed on a solid idea of blue collars.
He said: “I think the concept of Mr. Farley is a very good concept, and it represents a very important difference from an idea very fashionable, which is to create manufacturing,” he said. “By expanding the concept of installation and movement as well as making things, I think it becomes a more logical and more comprehensive concept.”
In fact, the share of the American workforce in manufacturing Its peak was 38.9 % In 1943, when the economy in wartime took out weapons and equipment without stopping, and it has been steady since then.
By the end of 2024, this session was only 8 % as the United States turned into a more orientation growth towards service, while the gains of productivity, automation and globalization reduced the number of local factories workers over the decades.
Those job losses destroyed regional economies, creating a violent political reaction that helped to send Donald Trump to the White House and launch a commercial war, partly designed to reproduce to the United States
Meanwhile, the technology boom prompted more Americans to go to collage to learn to develop software and engineering, although some of these professions are now threatened by artificial intelligence.
“I think we have definitely lost the sight on higher education, and all our focus on science and technology,” said Samarz. “Everything that is very deep has happened with the economy of knowledge with parts and bit – this work that people do with their hands is crucial for the lives of tens of millions of Americans.”
During the Aspen Ideas festival last summer, Farley said that the United States is very little on vocational trainingAnd, which is also directed to the 1950s of 2050, contributing to the decrease in the productivity of blue collars.
At the same time, the demand for skilled deals is expected, and even the mutation of artificial intelligence will ask workers to build and serve the facilities that provide all the required computing capacity.
“There is more than one way for the American dream, but our entire educational system focuses on education for four years (the college),” said Farley. “Entering an entry factor in a technical company has decreased by 50 % since 2019. Is this the place where we want all our children to go? Artificial intelligence will replace half of all white collar workers in the United States?”
https://fortune.com/img-assets/wp-content/uploads/2025/10/GettyImages-1472632309-e1759687128183.jpg?resize=1200,600
Source link