MIT's President Susan Hockfield has argues that the American economy 'will only thrive when we make what we invent'. The same is true in the UK, says Stephen Bayley, so let's reinvent ourselves as a workshop. Cultures which manufacture are more socially cohesive, respectful and they acknowledge hierarchies.

Most important of all, manufacturing teaches, at a fundamental level, the relationship between effort and reward - a moral connection that has been completely lost to the financial industry.