I don’t believe
that more productive forms of production are bad for the economy. I believe
that it can hurt groups of people in the short term with layoffs and the
removal of jobs in a community as either a more effective group of people take
over or there are technological advances that come into play that shift how
much the goods cost to produce. This is just a shifting of the economy through
the use of the invisible hand. Unfortunately it sometimes hurts people but that
is just the market’s way of telling people to change what they’re doing and
find something that works better and is more effective.
In
our current world climate I believe we are seeing this happen with the
exportation of the United States labor to other countries where manual labor is
dramatically cheaper than it is in the U.S. . In China sweatshops are packed
with people willing to do work for a fraction of the price that U.S. citizens
would work for that allows companies to purchase cheap goods. While the moralities
of such practices are in question the economic sense behind it is sound.
Unfortunately for U.S. citizens this means that many of the jobs that
previously allowed the middle class to thrive are exported. This has been
causing many issues such as a decrease in factory jobs. Even though many people
wouldn’t want to do these jobs the simple fact that they are no longer available
are forcing people to go to other avenues to work. In my mind this is a
significant factor in why a college education is so important in today’s job
market. There simply aren’t as many entry level positions open to people, which
forces a decision to achieve higher education or poverty.
No comments:
Post a Comment