What should the manufacturing community expect from Barack Obama once he takes office next month as the nation's 44th president?
At the very least, manufacturers should expect a hearing to outline both the challenges and strengths of the industrial sector in the U.S. economy and the role manufacturing must play in helping the country work its way out of the recession. At the most, the new president can put the idea of global manufacturing competitiveness on the front burner and help pave the way to a better future for industry.
The problems of the U.S. economy, as inauguration day approaches, are huge and complex. The issues facing the financial sector alone — monetary policy, Wall Street governance, credit markets, and the list goes on — would be enough to dominate any new administration. Add concerns over employment, healthcare, energy, environmental protection, and education, to name just the most prominent social issues, and what emerges is a multi-front war that President Obama will have to figure out how to manage.
Compounding the new president's challenge is the fact that the financial industry meltdown has now spilled over into other sectors of the economy, including retail, travel, and transportation, creating a chain reaction. The automobile industry's travails, although long in the making, have been accentuated by the economic crisis. But the problems of the auto industry might just serve a purpose in exposing the need for a broader national conversation about the future of U.S. manufacturing.
President Obama will have to decide first on a basic strategy to address the nation's problems. The decision on this strategy will come down to a couple of options. Does he try to attack on all fronts more or less at once, as Franklin Roosevelt did in the 1930s, based on the idea that sectors and issues are interconnected and an overall solution must be implemented? Or does he prioritize his approach, starting perhaps with stabilizing Wall Street and the credit markets and leaving such issues as healthcare for later or perhaps even to a second term?
My guess is that the president will select option one in one form or another. Obama is smart enough to realize that a recovery cannot be achieved any other way. Moreover, longer-term prosperity requires building a stronger overall economic foundation, of which healthcare, energy, education, and the like are critical parts.
This is the prize in the current economic crisis. From the ashes of the meltdown, President Obama will have the opportunity to rebuild America's economy in a way that will ensure our national competitiveness in the years ahead. He must use his impressive oratorical skills, passion, and discipline to rally the nation to this opportunity. Manufacturing has the same opportunity and must make sure it has a voice in the discussions that will take place.
Managing Automation will be addressing this subject in the months ahead. Last summer, the editors decided to base our annual conference, the Progressive Manufacturing Summit, on the theme Redefining the Business of Manufacturing. Next year's summit, to be held June 10-12, 2009, in Sarasota, FL, will take place as the Obama Administration gets under way. For more information about the summit and how you might take part in this important national conversation about the future of manufacturing, go to www.managing automation.com.