Global needs and change in the United States

¶ … Rich Man, Poor Man" in the Economist deals specifically with the theme of the conflicts between the world's needs and expanding change within the United States. This article explains that globalization has become a double edged knife for the United States and other first world nations. Although overall prosperity has increased for both developing nations as well as developed nations, this prosperity is not equally divided. As a consequence of outsourcing and off shoring, many jobs that were formerly secure blue and white collar jobs are now in the hands of Chinese and Indian workers. At the same time, executives on a global level are now wealthier than they have ever been before. Executive compensation has now reached the level of 110 times more than average income. This article brings up several important lessons that we have discussed within our lessons. The first is that globalization is a device to increase world prosperity. Therefore it is one of the primary needs that the world faces within the next ten years to keep up its current level of economic growth. However, this same prosperity is also changing the employment market and the way corporations, governments, and other organizations operate on multiple levels. The benefits of globalization are profound because it increases the overall global wealth, but at the same time it has harmed many industries and destroyed the jobs of employees everywhere. This means that an evolution is taking place where workers must now redefine themselves and their skills in order to stay competitive and to pursue job opportunities that were not present in the previous market. The lesson of this article is simple, that with the onset of globalization we are seeing profound changes within the world and the majority of these changes are positive. However, because change causes short-term damage on many different levels, we are observing a heavy backlash. Only time will tell whether protectionism will be overridden by the general prosperity increase that the world is seeing in this newly globalize world. http://www.economist.com/opinion/displaystory.cfm?story_id=8554819