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Old 08-02-2012, 03:41 PM
 
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I wonder if we are just continuing to see our economy evolve from the old factory based economy to the knowledge based economy.This shift has been going on for 30 years and will continue. People with higher education in the skills that the economy needs are working while those without the necessary skills are being cast aside. I don't see unemployment going down below 8 percent and more people will continue to drop out of the work force.
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Old 08-02-2012, 04:36 PM
 
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Originally Posted by totsuka View Post
I wonder if we are just continuing to see our economy evolve from the old factory based economy to the knowledge based economy.
Ain't gonna happen, because the huge 3rd world is catching up with education. It will be pretty hard to export expertise that everybody's got a plenty.
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Old 08-02-2012, 10:51 PM
 
Location: Chandler, AZ
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China & India have far too many issues (socially and otherwise) and too many infrastructure issues including that blackout in India that the national media is ignoring.
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Old 08-03-2012, 02:36 AM
 
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Originally Posted by Marv101 View Post
China & India have far too many issues (socially and otherwise) and too many infrastructure issues including that blackout in India that the national media is ignoring.
They do, and will be for quite some time. But the point is - soon they'll have many more educated people than America. Simply because they've got so many people.
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Old 08-04-2012, 12:12 PM
 
Location: US Empire, Pac NW
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Originally Posted by russiaonline View Post
They do, and will be for quite some time. But the point is - soon they'll have many more educated people than America. Simply because they've got so many people.
Thing about a knowledge-based economy is, if you're not exporting anything, you are basically forcing the highly paid intellectuals to pay a higher tax to make up the difference in the trade imbalance.

Also factor in that the general intelligence curve for any society follows a bell curve. The top 20% of people can become engineers, highly paid technicians, etc. For India and China, it's more like 5%. I don't care how many educated people they have - if they don't have a balance between intellectuals and labor and infrastructure, they can't compete.

They know this though, so I think I agree they'll be competition in about 10 years or so, if not more. India's recent blackouts proved they have very high hurdles to overcome and it will take a lot of investment by their government to provide the foundation for a more robust economy. China has the opposite problem - too much infrastructure investment and too little intellectual output.

Anyway, I do think it's only a matter of time before their economy can compete with the US's, and the world will become multipolar instead of one hyperpole.
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Old 08-04-2012, 02:11 PM
 
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Originally Posted by eskercurve View Post
Thing about a knowledge-based economy is, if you're not exporting anything, you are basically forcing the highly paid intellectuals to pay a higher tax to make up the difference in the trade imbalance.
I see it a bit differently - knowledge-based economy is utopia. For as long, as people, not robots, do so much of a job.

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They know this though, so I think I agree they'll be competition in about 10 years or so, if not more.
Yep. Maybe a lot more, but they'll be there anyway.

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Anyway, I do think it's only a matter of time before their economy can compete with the US's, and the world will become multipolar instead of one hyperpole.
It's more of the military domination, because economically America sucks already. Militarilly all depends on Russia. There should be dramatic changes after 2020-2025, unless they're caused earlier by some other force.
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Old 08-04-2012, 02:26 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
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Originally Posted by brocco View Post
i anticipate another boom within the next 10 years or so when there are major discoveries and profitable inventions in the alternative energy sector. its just a hunch and i could be off, but to answer your question i definitely don't think we are doomed in the long-term.
If physics comes through with a source of almost free unlimited energy within the next 20 years or so, that would translate into booming economies that would have the means to produce just about anything. It's possible. Fundamental discoveries are still being made, the big one could be hypothesized tomorrow and put into action in a few years.
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Old 08-04-2012, 07:24 PM
 
Location: Kenmore, WA
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Originally Posted by Veyron View Post
I haven't really been following the recession too much. I know about it but not the specifics and the latest information.

So will the economy ever come back or is this way of life here to stay?
DH and I are right now watching the 2010 documentary "Inside Job" and the information revealed makes me sick. I've lost all faith in America, our leadership, and don't know of anything possible that we can do about it. As far as I can tell, we are at the complete mercy of crooks, liars, and thieves.

Inside Job (film) - Wikipedia, the free encyclopedia
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Old 08-04-2012, 11:03 PM
 
Location: State of Superior
8,730 posts, read 14,621,361 times
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Originally Posted by LookinForMayberry View Post
DH and I are right now watching the 2010 documentary "Inside Job" and the information revealed makes me sick. I've lost all faith in America, our leadership, and don't know of anything possible that we can do about it. As far as I can tell, we are at the complete mercy of crooks, liars, and thieves.

Inside Job (film) - Wikipedia, the free encyclopedia
This stuff has been going on as far back as we can remember. If anything there is more awareness and some sunshine filtering through than ever ,these days. Keep the fath,for a while anyway and see what next year looks like. Many people are mad as he'll, and can,t take it anymore, that's a good sign.
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Old 08-07-2012, 07:51 AM
 
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The economy will come back, but many people will remain unemployed.
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