Sunday, August 21, 2011

Blame it on the ATM.

--In 1878 Eadweard Muybridge exhibited the first motion picture of a galloping horse. Vaudville that this was amusing. President Rutherford B. Hayes probably enjoyed the first motion picture he say.
--In 1880 Thomas Edison made the Light Bulb economically feasible, but President Hayes did not complain about the candle makers and made no mention of the whalers who lost their jobs as a result.
--In 1896 Rasom E Olds perfected the gasoline engine for the horseless carriage. Not a compliant from blacksmith unions nor President McKinley about all of the displaced blacksmiths who had to find new jobs.
--In 1911 Fred Wiseman delivered the first "Air Mail" letter. The telegraph operators in the US barely took notice and homing pigeon caretakers didn't complain. Neither did President Taft.
--In 1972 IBM developed the Automatic Teller Machine. President Nixon did not complain. In 2011, President Obama did.

People in America's past have learned to adapt
Olds was a blacksmith who learned to work on steam engines before developing his gasoline engine. In 1897, Oldsmobile was founded. The curved dash Olds was the leading car sold in the US during the first few years of the 20th century. But Olds left in 1907 to begin REO motors.

In 1908, William C. Durrant co-created General Motors as a holding company for Buick, one of the other leading producers of automobiles at the time. The other co-founder was Charles S. Mott, one of the leading producers of horse-drawn carriages. In 1909, the purchased Oldsmobile. From 1931 to 2007, General Motors was the leading seller of automobiles in the world. This giant company existed, in part, because the leading maker of horse-drawn carriages was able to adapt.

Boeing became one the worlds leading producers of aircraft because they were more willing than some of their competitors to incorporate jet engines into their aircraft. Air travel became faster and safer because of the development of the jet engine.

IBM almost became a victim of computing technology until they began to focus on consulting services.

Individuals and businesses survive by learning how to react. Technological progress happens. Only recently has our chief executive used it as an excuse. Many, if not all people displaced by new technology are willing to learn and be retrained. Most do not have the ability to pay for it, however. That is where the gap lies. and that is the problem we should address.