Benjamin Franklin is remembered as one of the foremost intellectuals of his time. Even in a time of many prominent thinkers, Franklin stood out as a prolific writer, inventor, statesman, and diplomat. Despite his accomplishments, Franklin’s formal education had ended by the age of 10, and he became an apprentice printer for his brother at 12. Nevertheless, for the remainder of his life, Franklin continued to seek knowledge through reading and conversations with acquaintances. A quotation often attributed to Franklin is: “An investment in knowledge pays the best interest.”
Franklin synthesized the knowledge he gained from reading and conversation and utilized his skills as a printer to publish his wisdom in books and essays, which are still read and cited today. In much the same way, manufacturers take abstract designs and turn them into reality, turning what was once only an innovative idea into a physical product that can be utilized by anyone. While developing the knowledge needed to conceive new ideas can take a lifetime, the skills to fabricate those ideas can be developed through apprenticeships or education early in one’s career. Analyzing the changing pattern of manufacturing technology purchases by educational institutions offers a glimpse into the availability of this opportunity for the next generation.
Employment Trends Shape Education
Educational institutions purchase manufacturing technology for a variety of reasons. Purchases by technical or trade schools can be used to teach students the skills necessary for a career on the shop floor. Purchases by research universities can be used to equip machine shops that fabricate necessary components to conduct research. Whatever the reason for the purchase, the increased availability of manufacturing technology in educational settings is exposing the next generation to the means of manufacturing.
Prior to 2012, educational institutions would order, on average, only about $10 million of manufacturing technology per year. Beginning in 2012, those purchases began to accelerate, resulting in orders being over five times higher by 2024. The timing of the acceleration was no coincidence. Around 2012, several important things occurred: The first baby boomers reached retirement age; then-President Barack Obama’s administration began introducing incentives to bolster U.S. manufacturing; and the demand for employees in manufacturing had been growing for three years.
The recession caused by the 2008 financial crisis officially ended in June 2009 after 18 months of economic contraction. Open positions in the manufacturing sector hit their lowest recorded level a month later with just 91,000 positions available. They peaked in April 2022 with nearly 1 million openings. In that same period, total employment in manufacturing grew by nearly 10%, outpacing the growth in the U.S. population.
More Than Educational Tools
Recognizing the tendency of humanity for unlimited want, Franklin is thought to have said, “Our necessities will never equal our wants.” However, this oversimplification ignores the shifting nature of what is a “necessity.” Running water, cars, computers, and numerous other things that were once luxuries or novelties became ubiquitous as improved production methods made them readily available and affordable. As a result, such goods are now firmly interwoven into daily life, making modern society virtually unimaginable without them.
While the reasons educational institutions purchase manufacturing technology can vary greatly, the common result is the increased access students have to the means of manufacturing. Embedding the knowledge of these methods into the minds of tomorrow’s inventors can only narrow the gap between the wants of today and the necessities of tomorrow.
To read the rest of the Workforce Issue of MT Magazine, click here.
