December 28, 2010
New American Normal: It's about fewer jobs here.
Other players in the new global markets are catching up fast. Yanks can and should get used to it--and adapt like the resilient commercial animals we are. See "Many U.S. Companies Are Hiring....Overseas" by the AP's Pallavi Gogoi. Excerpt:
Other economists, like Columbia University's Sachs, say multinational corporations have no choice, especially now that the quality of the global work force has improved. Sachs points out that the U.S. is falling in most global rankings for higher education while others are rising.
"We are not fulfilling the educational needs of our young people," says Sachs. "In a globalized world, there are serious consequences to that."
Posted by JD Hull at December 28, 2010 11:06 PM
I just read a post yesterday about how Americans are getting more PhDs than ever. How are we falling behind in rankings for global education? This doesn't make any sense at all. What makes better sense is that labor in other countries is getting better educated, but is still much cheaper than American labor.
Posted by: Joe at December 28, 2010 02:41 PM