WEBVTT 00:00:01.439 --> 00:00:06.346 today, the man with a degree is taking over every central and significant 00:00:06.379 --> 00:00:10.906 activity in our society as the cradle of our national leadership. The 00:00:10.939 --> 00:00:14.816 college is increasingly weighty and powerful. Never in the history of 00:00:14.849 --> 00:00:20.887 America have so many people spent so much money in search of talent. That 00:00:20.920 --> 00:00:24.756 is tom Edens, Junior and alumnus of Arizona State, who has been studying 00:00:24.789 --> 00:00:29.166 the great hunt for educated talent that is now going on. How does this 00:00:29.199 --> 00:00:33.217 problem affect you? What does it mean for our college and university 00:00:33.250 --> 00:00:37.807 campuses? How is it related to our effort to avoid another depression? 00:00:37.840 --> 00:00:45.840 We'll hear more from Tom Edens in just a moment. 00:00:46.009 --> 00:00:52.506 Hello? 00:00:52.539 --> 00:00:58.976 Hello 00:00:59.009 --> 00:01:03.357 there, This is Jim Cressman welcoming you to the Arizona statesman. Listen 00:01:03.390 --> 00:01:08.007 , as we invite you to establish or renew your friendship with Arizona 00:01:08.040 --> 00:01:10.876 state at Tempe. 00:01:10.909 --> 00:01:18.909 Heh, 00:01:23.540 --> 00:01:28.777 we're enjoying the greatest prosperity in our history And I noticed that 00:01:28.810 --> 00:01:34.096 time magazine says this week, our net take home pay has risen 20% in the 00:01:34.129 --> 00:01:39.337 last 10 years. We've never had it so good. And yet I think that most of us 00:01:39.370 --> 00:01:44.397 are wondering how long the boom can continue. And here's a man who can 00:01:44.430 --> 00:01:48.917 help answer that question. He's Tom Edens, junior and alumnus of Arizona 00:01:48.950 --> 00:01:53.917 State and a phoenix businessman tom do you think we can avoid another 00:01:53.950 --> 00:01:59.757 depression? Yes, Jim, I think we can, but there is a mighty big if 00:01:59.790 --> 00:02:03.607 connected with that answer. And it involves the great search for educated 00:02:03.640 --> 00:02:07.967 talent to keep our economy expanding and prosperous. The head of a great 00:02:08.000 --> 00:02:13.247 industry recently said, referring to the desperate search of people our 00:02:13.280 --> 00:02:18.036 talent and training. The college graduates are being pursued, flattered 00:02:18.069 --> 00:02:23.156 and fought over. We don't screen them. They screen us well, I can see that 00:02:23.189 --> 00:02:28.217 our colleges and universities have a mighty big responsibility. Yes. And 00:02:28.250 --> 00:02:32.696 as alumnus, I am concerned about the big job these institutions have to do. 00:02:32.729 --> 00:02:36.207 Not only do they have to provide the answer to the great talent search of 00:02:36.240 --> 00:02:40.226 industry, but they have to do it in the face of growing enrollments, which 00:02:40.259 --> 00:02:44.476 will double in the United States in the next 10 or 12 years and triple 00:02:44.509 --> 00:02:49.897 here in Arizona actually, jim our colleges have the answer to continued 00:02:49.930 --> 00:02:54.397 prosperity. You mean that they will actually determine whether or not we 00:02:54.430 --> 00:02:59.476 can break the boom and bust pattern of our history. Yes, I do. They hold 00:02:59.509 --> 00:03:02.967 the key. Well, I certainly want to get your reasons for feeling that way. 00:03:03.000 --> 00:03:07.327 And first I'd like to find out just a little bit more about you tom And 00:03:07.360 --> 00:03:11.156 so I'm going to turn to a man who can speak objectively. Our alumni 00:03:11.189 --> 00:03:15.876 president, Haskell Henshaw of Tempe, can tell us about your qualifications 00:03:15.909 --> 00:03:21.457 for answering our questions. Jim Tom Edens is qualified to talk about 00:03:21.490 --> 00:03:25.476 higher education in Arizona first of all, because he holds degrees from 00:03:25.509 --> 00:03:29.897 both Arizona state Tempe and the University of Arizona, he served in the 00:03:29.930 --> 00:03:33.927 phoenix elementary school district at the administrative level for many 00:03:33.960 --> 00:03:37.517 years and he has just been elected to the board of trustees for the 00:03:37.550 --> 00:03:41.436 California Western University in san Diego. A methodist sponsored 00:03:41.469 --> 00:03:45.467 institution. Tom is a representative of the equitable life assurance 00:03:45.500 --> 00:03:50.126 society society in phoenix. He is a past president of the phoenix Kiwanis 00:03:50.159 --> 00:03:56.066 club and is extremely active in civic affairs last May. Tom made it talk 00:03:56.099 --> 00:04:00.686 to the human Kiwanis club and he called it brainpower for survival. This 00:04:00.719 --> 00:04:03.737 address was so timely and calling attention to the tremendous need for 00:04:03.770 --> 00:04:07.177 growth and development of higher education in Arizona, the alumni 00:04:07.210 --> 00:04:10.906 association had it printed in a booklet and has distributed to the leading 00:04:10.939 --> 00:04:14.267 citizens in our state. Well, is it possible for radio listeners to have a 00:04:14.300 --> 00:04:17.827 copy of this booklet? Yes. Just dropped a card or letter to the alumni 00:04:17.860 --> 00:04:21.437 office at Arizona state and Champion asked for it. The title is Arizona's 00:04:21.470 --> 00:04:25.397 part in brain power for survival. But if you just put brainpower in your 00:04:25.430 --> 00:04:28.777 card, it will be sent to you. Well, thank you very much at school and now 00:04:28.810 --> 00:04:32.937 I want to turn back to tom now that we know he's qualified to give us our 00:04:32.970 --> 00:04:37.296 answers. Tom. You just told us that you think the college and university 00:04:37.329 --> 00:04:41.207 will play a big part in deciding whether our prosperity continues in 00:04:41.240 --> 00:04:44.656 America or whether we have another depression. And can you tell us why 00:04:44.689 --> 00:04:50.527 this is true? Yes, very simple gym. We have had 12 years of post-World war 00:04:50.560 --> 00:04:55.197 two prosperity. It's 18 years since the last major depression. But every 00:04:55.230 --> 00:04:59.777 body is uneasy and keeps looking over his shoulder at the boom and bust 00:04:59.810 --> 00:05:04.116 pattern of history and wondering how long will this boom last. Some of our 00:05:04.149 --> 00:05:07.356 leading experts believe that the remedy for this pattern of re occurring 00:05:07.389 --> 00:05:11.687 depression lies in the discovery and development of new products and new 00:05:11.720 --> 00:05:16.637 equipment. Rather than producing more and more of the same old things. And 00:05:16.670 --> 00:05:20.467 for this discovery of new things, there is a terrific demand right now for 00:05:20.500 --> 00:05:24.986 scientists and engineers. Well, do you have any figures on this? Yes, jim. 00:05:25.019 --> 00:05:28.647 The current issues of both the saturday review of literature and harper's 00:05:28.680 --> 00:05:33.187 magazines are devoted almost entirely to this great search for educated 00:05:33.220 --> 00:05:38.067 talent and the tremendous need to find it. The figures are revealing. 00:05:38.100 --> 00:05:42.046 Nearly 1/3 of the employees of the General Electric Company are working on 00:05:42.079 --> 00:05:47.306 products not manufactured by the company. In 1939, 00:05:47.339 --> 00:05:53.067 The Corning Glass Company received 3/4 of its income in 1955 from products 00:05:53.100 --> 00:05:58.736 it has developed since 1940 For business as a whole. Perhaps as much as 00:05:58.769 --> 00:06:03.267 1/5 of our current production is a products which are essentially Postwar 00:06:03.300 --> 00:06:09.527 creations. Research and development have created whole new industries such 00:06:09.560 --> 00:06:14.717 as air conditioning. The experts believe that depressions come when our 00:06:14.750 --> 00:06:18.996 capacity for production exceeds the demand for products and that the 00:06:19.029 --> 00:06:23.496 answer is to produce new products and create new demands to raise our 00:06:23.529 --> 00:06:27.976 standards of living. This is exactly what our industry has been doing 00:06:28.009 --> 00:06:32.806 since World War Two, and it is the reason we have never had such great 00:06:32.839 --> 00:06:36.757 prosperity. Well, then, that explains why the man with the degree, as you 00:06:36.790 --> 00:06:41.507 call him, is being sought after as never before. That's right. Since the 00:06:41.540 --> 00:06:45.769 turn of the century, the population has nearly doubled.