service economy

[Whaazup17]

Where do you think our economy is going? Do you think it is going to be a service only economy and have other people do the manufacturing. I work in manufacturing at a mold shop and the past couple of years have been slow but just lately this year it is getting a lot stronger. WHy!? I dont know why it is getting stronger...

What do you think the economy is headed?

[Amortized]

the economy is very cyclical for just about every industry out there. some strive when the economy is doing poorly while others struggle to stay afloat while the economy is booming. We'll never be a service only economy. As diverse as this country is, there will always be a need for goods AND services regardless of industry. Even with outsourcing, there are just some things that need to remain local. Some industries will see more outsourcing than others. The key to protect yourself from outsourcing is always increasing your human capital (knowledge, education, expierence, etc). The more you know and the more efficient you are, the less likely you'll lose your job to somebody oversees willing to work for 12 cents an hour. If the person who's willing to take your job for 12 cents has very little human capital, the more likely they will be a liability to their new employer than somebody who knows the business inside and out.

[Whaazup17]

the economy is very cyclical for just about every industry out there. some strive when the economy is doing poorly while others struggle to stay afloat while the economy is booming. We'll never be a service only economy. As diverse as this country is, there will always be a need for goods AND services regardless of industry. Even with outsourcing, there are just some things that need to remain local. Some industries will see more outsourcing than others. The key to protect yourself from outsourcing is always increasing your human capital (knowledge, education, expierence, etc). The more you know and the more efficient you are, the less likely you'll lose your job to somebody oversees willing to work for 12 cents an hour. If the person who's willing to take your job for 12 cents has very little human capital, the more likely they will be a liability to their new employer than somebody who knows the business inside and out.


yea that I am doing is gaining my knowledge with college right now. So do you think the chiniese and other countries will continue to take our manufacturing jobs?

[Amortized]

yeah they'll be taking some of them for quite some time, us americans just need to take them back.

[Whaazup17]

yeah they'll be taking some of them for quite some time, us americans just need to take them back.

how would we take them back?

[Amortized]

increase human capital

[Whaazup17]

hahaha ok!!!

why aren't you online anyway?

[Amortized]

mmm, think I closed it along with a bunch of others while downloading some programs and running updates.

[BigJimSlade]

increase human capital

Are you saying the American worker needs to increase his productivity so as to be worth more? Big Jim hopes you are not looking to the next generation to do this with their minds. My fiance teaches in town, and her kids (school in general) are about the farthest behind on the planet. 3rd graders who can just now write their own names. The 4th graders had problems with subtraction today (ex: 10 - 7 = ?, no joke).

I was doing division in 3rd grade and writing in cursive. I consider myself average, but I would have leveled these kids. Hmmmm...maybe this is a whole different thread. :)

Ever hear the song 21st Century Digital Boy by Bad Religion? I'm a 21st century digital boy. I don't know how to read, but I've got a lot of toys.

[Amortized]

It needs to be everybody, you, me, our parents, our children, and all inbetween. If we can't increase our own efficiency through education and hard work, we're gonna have a hell of a time competing with other countries in the labor market. I'm sure you've heard the saying "We're in a global economy" that doesn't just apply to products and services, but applies to labor markets as well. In this information age, things can be shipped halfway around the world rather quickly now. If we don't give corporations a reason to stay in america, they'll look elsewhere, if there's a bad labor pool here demanding 800% more than mexicans, chinese, indians, etc., where do you think corporate america will go?

Are you saying the American worker needs to increase his productivity so as to be worth more? Big Jim hopes you are not looking to the next generation to do this with their minds. My fiance teaches in town, and her kids (school in general) are about the farthest behind on the planet. 3rd graders who can just now write their own names. The 4th graders had problems with subtraction today (ex: 10 - 7 = ?, no joke).

I was doing division in 3rd grade and writing in cursive. I consider myself average, but I would have leveled these kids. Hmmmm...maybe this is a whole different thread. :)

Ever hear the song 21st Century Digital Boy by Bad Religion? I'm a 21st century digital boy. I don't know how to read, but I've got a lot of toys.

[Joe]

FYI, I fear where our country will be in 20 years when the current generation in school now are "the leaders"....

Luckily by then I will have my compound built and won't give two shits about the rest of the world.

[moldyhands]

I'm sure you've heard the saying "We're in a global economy" that doesn't just apply to products and services, but applies to labor markets as well.... if there's a bad labor pool here demanding 800% more than mexicans, chinese, indians, etc., where do you think corporate america will go?
and that's exactly the reason we have an ever increasing division between the wealthy and the poor. basically, america is going down the path that if you're not a college graduate, you're going to be poor. not just poor, but dirt poor, no way to pull yourself out of the ghetto poor. (and i don't want to hear how some illiterate fieldworker is going to teach himself to read without going to school and become the next bill gates).

other countries in western europe seem to realize the economic and social importance of bridging that gap. in america, we seem to encourage the movement of wealth away from the unwealthy.