The author of any textbook will say that there have been three major industrial revolutions. The first industrial revolution was steam industrial revolution, the second one based on coil and the production or major machines with the third happening recently where automated robots have starting to take over different jobs.
Obama makes the point that America is powerful because has the potential to constantly reinvent itself. He mentions that America has enough productivity, innovation and capacity to do so. It is also a land which protects the interests of everyone and not narrow interests anymore, and this is path that had to be followed from that moment on.
