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I don't think the unemployment divide has much to do with technology. Imagine that the economy of every country in the world is a lake. The depth of the hole i
by slyn 17y ago
I don't think the unemployment divide has much to do with technology.
Imagine that the economy of every country in the world is a lake. The depth of the hole in which the water resides is roughly proportional to the population of a country, and the amount of water inside the hole is roughly proportional to the average persons quality of life in that country.
America has a relatively high water mark compared to the rest of the world. When America opened trade with China, we essentially dug a hole between our lake and their lake. Because China's lake has such a low water mark, water from our lake (jobs basically) will flow to their lake until their lake and our lake are roughly at equilibrium. Same goes for India and the rest of the world we trade with globally. The lowest water (lowest paying, lowest education req jobs) flows over first, which is why lots of the manufacturing and call center type jobs went overseas first. The current downturn was likely caused by things not related to this flow, but as the recession makes its way through the economy it increases the flow as companies look for ways to cut costs.
I would further the analogy but I don't really have time. End result is: More education = less likely to lose your job. What sector of the economy you are in has little to do with your actual job security.