“It Is A Curiosity Of Modern Life That Information Companies Can Create Extraordinary Social Disruptions And Vast Shareholder Wealth But Relatively Few Jobs”

From Jon Gertner’s excellent New York Times Magazine article about the burgeoning lithium-battery market and the future of manufacturing in America:

“On both sides of the world, the fundamental appeal of expanding manufacturing is jobs. It is a curiosity of modern life that information companies can create extraordinary social disruptions and vast shareholder wealth but relatively few jobs. Facebook has about 2,000 employees worldwide. Google has about 29,000. Even in its new, slimmed-down state, General Motors, a decidedly less valuable company, has about 200,000 employees. What’s more, that number represents only a fraction of the people behind the production of a G.M. car. ‘When you’re manufacturing anything, even if the work is done by robots and machines, there’s an incredible value chain involved,’ Susan Hockfield, the president of M.I.T., says. ‘Manufacturing is simply this huge engine of job creation.’ For batteries, that value chain would include scientists researching improved materials to companies mining ores for metals; contractors building machines for factory work; and designers, engineers and machine operators doing the actual plant work. By some estimates, manufacturing employs about 65 percent of America’s scientists and engineers.”

Tags: ,