Lawrence H. Summers(@LHSummers):Ford CEO Jim Farley’s idea of the “essential economy” is a good one and represents an important departure from a fashionable idea: the fetishization of manufacturing. By broadening the concept to include fixing and moving as well as making, it becomes more plausible and inclusive. In all our emphasis on higher education, science and technology, and the knowledge economy of bits and bytes, we have lost sight of the fact that the work people do with their hands is crucial to the livelihood of tens of millions of Americans. @DavidWestin #WallStreetWeek @BloombergTV

2025.10.02 15:55

Ford CEO Jim Farley’s idea of the “essential economy” is a good one and represents an important departure from a fashionable idea: the fetishization of manufacturing. By broadening the concept to include fixing and moving as well as making, it becomes more plausible and inclusive. In all our emphasis on higher education, science and technology, and the knowledge economy of bits and bytes, we have lost sight of the fact that the work people do with their hands is crucial to the livelihood of tens of millions of Americans. @DavidWestin #WallStreetWeek# @BloombergTV

Bloomberg TV@BloombergTV

2025.10.02 15:42

Is America overlooking the “essential economy"? Ford CEO Jim Farley and @LHSummers think so — and say moving, fixing and building is just as crucial as tech and ideas. Watch "Wall Street Week" Friday at 6 p.m. ET