Economics Quote by Chuka Umunna
“Back in the 1980s parts of our country were devastated by de-industrialisation. This wave of globalisation and the first fruits of technological innovation destroyed industrial jobs or exported them to low-wage economies. The loss of work had a devastating impact.”
About This Quote
Source Speech: Parliamentary debate on industrial policy, United Kingdom, 2015
De‑industrialisation and early globalisation removed many manufacturing jobs, causing widespread economic and social harm.
In simple terms: Loss of factories hurt communities.
Key Takeaway
Address job loss with new skill training.
Themes
economy
globalisation
technology
employment
social impact
Mood
concerned
reflective
Type
political
analytical
When to use this quote
- community redevelopment
- workforce retraining
- regional investment
- social safety nets
Key Concepts
structural unemployment
industrial policy
economic transition
Questions to Reflect On
- How can regions rebuild after factory closures?
- What policies best support displaced workers?
A Different Perspective
New tech can also create jobs, but transition is uneven and slow.
