‘We can't miss this one as we did the silicon revolution’:
The more I study the historic ebb and flow of the Massachusetts economy, the more convinced I’ve become that we’re always going to pioneer and then blow leads in various industries. First there was textiles. Then finance and, to a degree, mutual funds. Then high-tech. And now it’s biotech.
... Am I worried? A little. But not overly so. Sure, we need to fight back to protect our industries, etc. etc. That’s just good business sense. ... But we’re never going to match the cost of labor and land in other states, let alone other countries. R & D and entrepreneurship are/have been ultimately the keys to the Massachusetts economy, not protectionist industrial policies promoted by backward-looking pols and civic boosters. ... Put another way: Would we really have been better off if generations past had succeeded in artificially propping up and keeping the textiles industry here? Sometimes it’s better to move on. ...
-- Ten bucks says the biotech manufacturing jobs now being outsourced to the Carolinas will be outsourced within ten years (and probably sooner) to India or elsewhere.
-- Bemoan the loss of the 'silicon revolution'? Let's check out the condition of Silicon Valley these days.
Ah, yes. They'e outsourcing jobs from there. ... Stand by my prediction: It's only a matter of time before biotech manufacuturing jobs are also outsourced to other countries. So why waste time and effort trying to keep them here? OK, we should try a little. But let's be realistic about the future. ...