corporations, whose initial function was manufacturing, have changed to scientific research and technology development. This productivity-driven environment intensifies outsourcing and offshoring, which have been evolving for many years even though only recently did their effects on jobs become more obvious.ĭuring the half century after WWII, the transition from basic agriculture to advanced manufacturing drastically transformed some European and Asian countries, such as Korea, Taiwan, Singapore, and Ireland.Īnother paradigm shift occurred more recently. For a given industrial function, the productivity bar has sharply risen, and fewer workers are required than a decade ago to perform an equivalent function. This goal stimulates profound changes in the structure and distribution of global and local job markets. On the global stage, increased production with less manpower and at lower cost is becoming the continual goal of all operations, making consistently increased productivity a relentless target. The creation of disruptive technologies is being affected by the globalization of information and trade, which in turn results in the globalization of jobs and affects the social environment. Globalization in technology, jobs, and trade affects almost all sectors and industries both specifically and broadly. economy cannot stand alone-it is an integral part of the global economy. The United States is the largest consumer in the world, as well as the largest exporter and importer, and accounts for more than one-quarter of global economic output. The new global economy is characterized by increased uncertainty, openness, flexibility, and choices, all of which impact lifestyle, business models, the working environment, the educational system, and national security. The global economy continues to be fueled by quickly flowing information, swiftly generated knowledge, and the myriad applications found for this information and knowledge.
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