Can Technology Fill the Manufacturing Jobs Void?

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Aug. 1 (Bloomberg) -- Alan Patricof, founder at Greycroft and Leo Hindery, founder at Intermedia Partners, discuss the underemployed in the United States and whether the growth of technology jobs can take the place of lost manufacturing in the nation. They speak on Bloomberg Television's "Bloomberg Surveillance."

Jobs situation is worse than we see because we do not talk about all the people who are only part-time employees.

I think that is the biggest hidden, you know not totally visible, but that is an enormous amount of people.

I cannot quantify for you, but it is a big number.

You are more qualified than anyone i know to answer this question.

Are text jobs at apple , google, and all the rest of them a substitute for manufacturing an america -- for manufacturing america jobs?

Any manufacturing company usually employees more than tech companies.

You take new york as a microcosm, i just took a tour of all the incubator spaces in new york, and there are dozens and dozens, and hundreds and thousands of people.

I was in one building where there are a thousand startups , 10 story building, every floor with startups.

Many of those are going to be spreading out and hiring more people.

So we have got a schism in the economy.

We have a schism in washington, as well here at the president introduces positive measures like jobs growth, spending more, to corporate tax reform, and it has already turned into a partisan fight.

Is washington capable of doing any part of the -- any policy to promote jobs are now?

There was a sorely a lot of impetus around infrastructure.

I think you could get back to something in the way of consensus there.

The fundamental, which alan was alluding to, we have 8% of women and men in manufacturing.

It is about one third of what he needs to be to sustain this economy.

You take facebook, we talked about it in a prior segment, 30 -- 3500 employees and all of facebook.

That is not general motors.

This tech boom, and i do not disagree, if you are in the tech community, you think it is swell.

If you live in dayton, ohio, it is not particularly swell.

Real unemployment is horrible in this country.

Leo, a question for you with your support of john edwards.

Hewitt never never member when mr.

Edwards -- you will not let me forget that, will you?

No, no.

He defined a phrase which is true today -- two americas.

Is this a to america where we have got a group succeeding succeeding completely separate?

That is two americas.

90% since 1967 have not had a real wage increase.

Consumerism is down.

You are rebuilding be credit bubbles.

We are doing it in housing, auto , and consumer -- this to america idea, this inequality idea really gets my morning must-read actually.

A bloomberg view columnist looks at this ideas as that we need to stop the -- stop obsessing over inequality because that is a threat itself.

It is wrong to sit again that the top as provost the systems and great wickedness, or to forget that clumsy intervention might affect everybody else's incomes.

His idea there is that it is hard to find policy fix when there is this belief that there is a wrongly ingrained system of inequality in our country.

Where clive is growing up with all respect of these children to espouse a trickle- down concept.

Trickle-down does not work.

You agree, alan?

I see a transformational economy.

I travel all over the country, and i see all of these incubator-type companies with people who are out of work and all of a sudden are developing an entrepreneur world urge.

It is happening in detroit, dayton, ohio.

We sit here in new york, most of the ceo posey that i know have no sense of what -- ceo's that i know have no sense of what this is.

It is in process.

They will be a job creator like the manufacturing titans that defined america?

It will take a lot more tech companies to make up for the manufacturing company that am lloyd 10,000, 20,000 people.

It will take time.

By the way, it is also happening in england, france, all over the world.

Are we doing enough to encourage it?

Not even close.

8% 8% women and men in many fracturing.

It has to be more than twice that, close to three times that to match the german economy.

Let's go back to this great discussion on the economy.

Scarlet fu, breaking news.

This text has been automatically generated. It may not be 100% accurate.


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