Monday, July 26, 2004
Boom Days
Economist: Fed's outlook a return to 1990s 'nirvana' '
The U.S. economy is a pretty remarkable thing. Unlike our European cousins, we favor flexibility and adaptation above economic stability and job security. I don't mean we favor instability, but rather that we don't as a general rule, try to keep jobs in American when it no longer makes sense for them to be here. As a result, while we don't make as many widgets as we used to in the 1950s or 1960s, we do a lot more telecommunications, technology, bioengineering, software development and other knowledge based jobs. Good if your willing to retrain yourself for a higher paying job, bad if your dream is to use your high school diploma to make $48/hr working in an auto plant.
http://http://www.usatoday.com/money/economy/fed/2004-07-25-economist_x.htm
The U.S. economy is a pretty remarkable thing. Unlike our European cousins, we favor flexibility and adaptation above economic stability and job security. I don't mean we favor instability, but rather that we don't as a general rule, try to keep jobs in American when it no longer makes sense for them to be here. As a result, while we don't make as many widgets as we used to in the 1950s or 1960s, we do a lot more telecommunications, technology, bioengineering, software development and other knowledge based jobs. Good if your willing to retrain yourself for a higher paying job, bad if your dream is to use your high school diploma to make $48/hr working in an auto plant.
http://http://www.usatoday.com/money/economy/fed/2004-07-25-economist_x.htm
