As our University has moved to a semester academic calendar, this creates an additional opportunity for a third Omniquest book in our first summer semester of 2011. I am pleased to announce our Omniquest selection is Make It in America: The Case for Re-Inventing the Economy by Dr. Andrew N. Liveris, Chairman and CEO of The Dow Chemical Company.
As Dr. Liveris explains, “American manufacturing, once the lifeblood of U.S. economic growth, is at a crossroads. Manufacturing output was responsible for 28% of GDP (Gross Domestic Product) in the 1950s, but now makes up less than 15% – and that number is shrinking. In 1975, we were exporting $12.4 billion more goods than we were importing. In 2009, however, we imported a stunning $380 billion more than we exported, and our trade deficit more than doubled from 1999.”
“This cannot continue,” argues Dr. Liveris. “Today, as never before, the public and our national leaders comprehend the need for a sustained effort to reverse this decline. A high unemployment rate, unsustainable spending at the Federal and State levels, and a massive – and growing – Federal deficit all derive, at least in part, from our reduced manufacturing strength. A reinvigorated U.S. manufacturing sector has the potential to positively address each of these challenges. Make It in America presents a comprehensive and clear path forward on national public policy issues that can revitalize U.S. manufacturing.”
Make It in America clearly outlines the challenges our country faces due to our diminished manufacturing sector. The solutions outlined by Dr. Liveris will challenge our beliefs in free markets as he proposes massive government intervention and incentives to strengthen our manufacturing output in America. In short, this book will heighten our awareness of a clear challenge to our economy and provide an opportunity for dialogue and debate as to how best this problem might be solved. I hope our University community will enjoy Make It in America, and I look forward to the debate that should ensue as to how best to meet this challenge to our economy.