Currency wars . At some point we ask for, have a weak dollar, which active in the next country can buy the same machines and shop in barcelona, see the local market. Are we looking at that end of the equation in terms of the offtake as they say in biofuels . Well, theres a famous economist in the 1800s called Jean Baptiste say that man creates its own demand and that is certainly true, particularly in this case. As companies become more perfect is come at cheaper the kind cheaper. So we dont have the worry about somehow people will want things. We have about 45,000 in this country and i guarantee you the vast majority people would rather have a Median Income of 200,000 for 400,000 or a million and thats just us. In terms of currency, currency is a problem. Fundamentally we cannot become our project even innovative is a country, were not going to get access to these markets. Why is the german philosophy as manufacturing jobs . Not because productivity went down. The renovation went up u
America . And second, what do you mean by needs . Do you mean American Labor or American Capital . And when you say needs, what makes manufacturing so special . When we look at the crowd, most people here dont make things. They spend all day reading and writing and talking people. Whats wrong with the Service Economy . Why do we need a renaissance to be better . Im a great fan of the Service Economy. I think theres an enormous amount of value created there. When we talk about america, we think about the royal we. And i would also add the longterm health of the country as a place to do innovation. Okay . And the principal thesis in the book that comes out of our research is that unlike the reputation that a lot of people associate with manufacturing, we actually think the ability to make things is fundamental to the ability to sustain innovation over the longer term. Especially when you have products or processes. And i think that was mr. Immelt referred to that earlier today. When you
This will basically follow the health of the cluster and particularly with small and mediumsized firms, what are they doing to essentially help lee is relatively small firms . Help these small firms. . . John, said a funny thing. You said no matter how much the government screws up, caltech will still be caltech and m. I. T. Will still be m. I. T. Outside the beltway, it is a different reality and you talked about public and private partnerships at the local level. Can you talk about why they are so important and maybe share your story about how you see the power partnerships . I did not mind it versus the real world. I spend most of my time with the companys seen what kind of problems theyre having in what theyre struggling with. Its true. In the same way that jeff immelt was not worried about only g e come up but there are a lot of companies out there that you do have to worry about. Im not worried were going to get left behind in terms of did creating all of these. We have the smart
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