The nation has been through similar periods of major change in its history and emerged the better for it. Just as we worked through great change during the Industrial Revolution, for example, or during the introduction of electricity and the automobile, we must also work through this period of even greater change. Keeping half the population on the farm wouldn't have been the right public policy at the turn of the century. Nor would it have been the right policy to try to keep buggy companies in business when the automobile was becoming the dominant form of transportation. We should promote, not hold back, innovation.
Innovation is the foundation of higher living standards.
Inequities do tend to subside as new skills are learned, new opportunities emerge, and new businesses are created. Nonetheless, there is a lot of anxiety along the way for a lot of people coping with major change. Change and its associated insecurity will likely be with us for some time to come even though the economy is performing rather well. The changes in the economy that I have seen during the past 30 years, along with rapid improvements in computer and communication technology, underscore the value of a broad educational background that enables people to continue learning and to adapt to change. Learning to think logically, to communicate clearly, and to inquire critically about the world around us is the best insurance against individual obsolescence in a rapidly changing global marketplace.