When it comes to economic growth, Wisconsin needs more of a good thing. At least that seems to be the attitude of economists who recently interpreted this year's Census Bureau data on personal income growth in the state.
According to a Sept. 6 article in the Milwaukee Journal Sentinel, personal income in Wisconsin grew during the past year, but at a slower rate than the national average. The lag, economists suspect, is the result of the state's "historic industries" failing to compete in an increasingly global market. Although Wisconsin's overall economic growth shows a functional state economy, its relatively weaker performance indicates the state can improve its competitive position by carefully evaluating policies concerning the support and growth of its major industries.
These historically large industries include manufacturing, agriculture and health care. It should not come as a surprise that the first of these industries, manufacturing, is facing tough competition in the new economic order. In an era when Wisconsin manufacturers are forced to compete with the often desperate labor forces of Mexico and China, rapid income growth is unlikely for these workers.
In the agricultural sector, competition is increasing, even inside U.S. borders. For example, California has now stolen Wisconsin's title as dairy capital of the United States, producing more milk and butter than America's dairyland. Although both of these industries are vital to the Wisconsin economy, their reliance on natural resources and well-established place in the state's history make it unlikely that huge growth will occur in either.
Therefore, with workers anxious for higher wages and economists hungry for further economic growth, Wisconsin's public officials should turn their attention to the state's last major industry — health care.
Wisconsin residents and their public servants have already demonstrated an appetite and competence for innovation in the health care industry. With the University of Wisconsin as the headlining institution, Wisconsin became one of the nation's top locations for human embryonic stem-cell research in 1998.
An in 2004, a $750 million taxpayer commitment gave researchers the opportunity to understand more about Parkinson's, Alzheimer's, diabetes, heart disease, stroke and spinal cord injuries than ever before. These discoveries will surely lead to improvements in quality of life for sufferers and economic gains for the state. With these advancements, Wisconsin can continue to provide the newest insight into the progression of these diseases and the best methods for treating them.
Wisconsin's forefront position was achieved because residents and politicians recognized a rising economic need and boldly capitalized when other states were hesitating over supposed moral divides or insurmountable costs. Today, the state faces a similar impasse and its ability to compete economically is again in question.
Looking to dominate yet another sector of the American economy, one in which Wisconsin has a large stake, California recently committed itself to expanding its stem-cell research program and is now considered the hottest place in the country for such research. It has also taken the lead in alternative energy exploration and stands to benefit monumentally from future discoveries. California's willingness to invest heavily in new industries pays off time and time again, but it is not the only state with a reputation for forward thinking. It's time again for Wisconsin to reaffirm its progressive reputation.
As re-election campaigns kick into high gear in the coming weeks, Wisconsin voters should be on the lookout for candidates who recognize the limitless potential of scientific research and who promise to exploit it for the state and its employees' utmost gain.
After all, globalization does not have to be the economic force we fear. Sure it has demonstrated a tendency to undermine the dominance of historical industries, but it has also fostered unprecedented levels of prosperity for those who react with dynamism and an eye for what's next.
Wisconsin is sitting at the verge of a bright future, where scientific discovery, fueled by public dollars and promoted through public policy, can improve the lives of millions. This can happen as a direct result of discoveries made and through the economic benefit of research taking place right here. We would be foolish to let this means toward economic security and greater well-being pass us by.
Sarah Howard ([email protected]) is a senior majoring in political science and journalism.