Capital Commerce

How to Create Jobs in The Face of Globalization

By Matthew Bandyk

Posted: November 11, 2009

Yesterday's Washington Post had a very one-sided article on how it has been difficult for one region of North Carolina to cope with global economic competition. The local residents quoted in the story—many of whom have lost their jobs as local manufacturers move to China and elsewhere—are quite skeptical of the claim that local economies can adapt in the face of globalization:

"The people in the think tanks keep saying we are going to become—what's the term?—an 'information and services' economy," said Allan Mackie, manager of the North Carolina Employment Security Commission office. "That doesn't seem to be working out too good."

I wish author Peter Whoriskey had spent time investigating the other side of the coin—the entrepreneurs who are trying to create those new information and services jobs. That's the harder side of the story to report because it is never obvious where the new drivers of job growth will be, and it can be a slow process to discover them.

But it can be done. CNN just posted some fascinating profiles of seven innovators in Detroit who have started new companies to fill the gaps in the local economy left by manufacturing layoffs.

If the notoriously depressed Detroit can find ways to innovate and adapt, any part of the country can.

Propaganda...

Indeed, what an accomplishment to replace high paid/benefits manufacturing jobs with low paying service jobs. A flase hope that is spoken to tickle people ears that free trade will not efect the American economy negetively. Well see the mess were are in, was it the housing crises, thus what was to blame. We need to go back futher than that. Perhaps since over the last thirty years of erosion of the manufacturing sector has finally caught up with us thus cause a dression in wages inversely causing the hosusing melt down, well subprime? The subprime was utililzed due to people incomes diminished due to the manufacturing erosion and to help people to purchased homes, well as you can see, it backfired.

It all boiles down to political delusions, sending us the message that retraining to perform other jobs will replace manufacturing. Well the over all majority of the new jobs are less paying. The manufacturing jobs were the backbone of the middle class not a job at Wal-Mart etc.

The goverment advocated Wall Streets agenda, to promote freetrade so corporations can offshore and thus have cheaper labor, no labor laws in places like China, or at least not enforced, and have those goods made there and sent here duty free and thus enjoy the excess profits. The price stays the same so the bnefit to the consumer is non existant, only to profit Wall Street. Now as you can see this sonario is finally getting caough up with Wall Street and they now received our tax money for bailouts. And while Main Street is losing thiere homes and jobs, Wall Street is keeping their, thanks to the U.S. taxe payers. Just think the taxes a person whom living in a tent because of a job loss is soing to help keep a person on Wall Street from loosing their multimillion dollar home and bonuses.

You can see the maoney that is generated by manufacting, since China received most of our manufacturing plants, our goverment is borrwing money from whom? CHINA. And whos economy is making a great progress in this golbal financial menltdown? CHINA. What country is buying more cars than the U.S.? CHINA. Were is the most of the goods sold in the U.S. is made? CHINA. Does this answers your questions.

Do you know that America's most prosperous times was the the peak of manufacturing, since the manufacturing sector declines, so is both the standard of living and the economy, only things kept is the economy callasping earlier is having two incomes per house hold of where when manufacturing was at it peak only required one income. People now since the decease of amnufacturing are getting paid less for the same job thirty years ago with the inlfation ajustment in consideration. American's are losing ground while the Chinease are gaining it.

Even many service jobs that replaced manufacturing has been offshored to India, plus computer programming jobs to both India and China. No job is safe, illegials aliens will replace non offshoreable jobs.

TERRI-USA of AL @ Nov 11, 2009 23:14:05 PM

Add Your Thoughts
About You

advertisement

Capital Commerce

Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

advertisement

advertisement

Subscribe

U.S. News Digital Weekly

A weekly insider's guide to politics and policy — in a multimedia, digital format. 52 issues for $19.95!

U.S. News & World Report

6 months of U.S. News & World Report's print edition for only $15. Save up to 67% off the cover price!