Perhaps the only good thing about geopolitical conflict is the increasing recognition of the value of human capital. You can’t compete if you haven’t got the right mix of skills, capability and motivation in your working population. That’s going to take decades of commitment to education and a reordering of incentives which each person generally ends up in the ‘right’ job for them, and for society. JP Morgan will a
report on what the US has to do to get there. Spoiler alert: going to take more than tariffs to ‘bring back manufacturing’. H/T to brainfooder
Randy Bailey for the share.