Industrial inertia
Hey kiddo! Do you know what "inertia" means? It's a big word that means something that's not moving, or something that's moving in a straight line and doesn't want to change direction.
Now, let's talk about "industrial inertia". This is when a big company or industry doesn't want to change the way it does things, even if there are better ways to do them. It's like when you get used to doing something a certain way, and you don't want to try doing it a different way, even if it might be easier or better.
For example, let's say there's a factory that's been making the same kind of product for 50 years. They have all the machines and processes set up to make that product, and they know how to do it really well. But maybe there's a new kind of technology or material that would make their product better, or make it cheaper to produce.
Even if it would be better in the long run, the factory might not want to change the way they do things. They might think it's too expensive or time-consuming to switch to a new way of doing things. Or, the people who work at the factory might not want to learn new skills or techniques, because they're used to doing things a certain way.
So, industrial inertia is when a big company or industry doesn't want to change, even if there are better ways to do things, because they're used to doing things a certain way, or they think it's too hard or expensive to switch to a new way of doing things.
Now, let's talk about "industrial inertia". This is when a big company or industry doesn't want to change the way it does things, even if there are better ways to do them. It's like when you get used to doing something a certain way, and you don't want to try doing it a different way, even if it might be easier or better.
For example, let's say there's a factory that's been making the same kind of product for 50 years. They have all the machines and processes set up to make that product, and they know how to do it really well. But maybe there's a new kind of technology or material that would make their product better, or make it cheaper to produce.
Even if it would be better in the long run, the factory might not want to change the way they do things. They might think it's too expensive or time-consuming to switch to a new way of doing things. Or, the people who work at the factory might not want to learn new skills or techniques, because they're used to doing things a certain way.
So, industrial inertia is when a big company or industry doesn't want to change, even if there are better ways to do things, because they're used to doing things a certain way, or they think it's too hard or expensive to switch to a new way of doing things.