Media and Engineering

March 12th, 2012

The media since the 1980s has been very keen to promote business as a career option. Prior to Margret Thatcher in the UK very few people got involved in the stock exchange. Few people thought the world of share trading, merchant banking and other financial services was very glamorous or exciting. Then there was a boom on both sides of the Atlantic generated by privatization and deregulation. People on Thread Needle Street in the UK and Wall Street in America started making unbelievable sums of money.

Money no longer became a dirty word in the UK. Thatcherism split the country between those who unashamedly flaunted their new found wealth and everyone else resented them and were more than slightly jealous. This was the age of the yuppy. It was also at this time that the President’s advisors started to be bankers and others in the financial sector. In one famous Youtube clip there is Don Regan formerly CEO of Merril Lynch whispering to President Reagan to hurry things up. See above. Ever since, big corporations brokerage companies, derivatives trading firms have been telling US Presidents to ’speed it up’.

In the UK 90% of those who attend Eton Boys School go into merchant banking.

The result on both sides of the Atlantic is a brain drain from manufacturing industries. Our brightest are no longer working on semi conductor applications, better car designs, or generally improving our manufacturing base. Instead we rely more and more on the financial services sector. Even the media couldn’t put a positive spin on the 2008 financial collapse. They just conveniently forgot to tell us the full extent of the duplicity, immorality and illegality.

It is time the media started talking about the benefits of a career in manufacturing or the Japanese, Koreans and Germans who take the market share entirely away from the English speaking countries.