J. Bradford Delong is throwing major league curveballs, wicked sliders, screwballs that pop off the table. An American economist, former deputy assistant secretary for economic policy at the U.S. Treasury Department, and currently professor of economics at the University of California, Berkeley, is stating that we are on the cusp of big changes, and odds are if you are reading this then those changes are not likely to benefit you. The wealthiest in the First World will do great, most of the Third World will improve dramatically, but you, an average schmuck(no matter how much you dislike the idea that you are average) in the developed world, well, you, my friend, are going to have big problems.
See, your lifestyle is not going to be sustainable. Competition for your cushy job is coming, and coming fast, be it from India or China or any number of other places looking to step up to the plate.
So, less middle class in the US and the rest of the developed world.
Less mobility through classes, less chances for you to live a better life than your parents, or your kids to hope to live better than you. Because skilled, educated, and English speaking workers are going to be able to do your job, and willing to do it for less, you are going to either lose your job, or work for less money. Just like factory workers in the Rust Belt in the 70's and 80's, you can be replaced, and you damn well will be replaced.
Globalization, baby, now painting it's laser targets on you, behind your desk.
Time to cultivate those specialty skills, like building custom furniture for wealthy landowners, because bank officers, lawyers, investment advisers, computer programmers, and other desk jobs are about to become commodities.
Good luck. You are going to need it.
Posted by dglynn at January 27, 2003 12:20 AM