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Thread: Time- Localnomics

  1. #1
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    Time- Localnomics

    Just read one of the best articles from Time in quite awhile. It's called Localnomics and it basically says that we are figuring out that the rest of the world sucks, and manufacturing jobs are starting to come back to the U.S. Sort of.

    A few points discussed in the article:

    1. As oil prices increase, it becomes more attractive for U.S. businesses to manufacture closer to their market.

    2. Foreign countries are have more corrupt business cultures and are risker.

    3. As wages in China outpace productivity increases, it becomes even cheaper to hire high-skilled domestic workers to control robots that handle the physically demanding work that used to be done manually.

    4. Smaller more local banks, which can serve the needs of local small businesses, will dominate post-financial crash.

    5. The world has a surplus of low-skilled workers, and a shortage of medium and high skilled workers.

    6. All job creation over the next 4 years will require at least a two year degree.

    7. There is a growing gap between what employers want and what degrees and skills students are graduating with.

    8. Amid political gridlock, employers are taking matters into their own hands, setting up degree programs with local community colleges to meet their skilled labor needs.
    Last edited by ReformCollege; 08-14-12 at 11:29 PM.

  2. #2
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    Re: Time- Localnomics

    This is huge, if jobs start moving back into this country after decades of outsourcing, that will lead to rising wage levels, and a booming domestic economy. We need to meet these educational challenges to provide the skilled labor, as I've been saying forever.

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