Do you buy the argument that the modern world NEEDS tons of college grads? (unemployed, teenager)
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This idea that our economy is supposed to magically evolve into something post industrial. Something that will also absorb the excess labor available today. What is it? Nobody knows. But apparently it is our failure in evolving into this elusive new economic model that is hampering growth.
Trading houses wasn't it. Selling big macs wasn't it. Anyone have any other ideas?
The industrial revolution made possible mass production. This allowed for consumption on a scale never before seen. It allowed the common family to afford items that they could have never afforded in years past. It also spurred mass employment opportunities in the cities that never existed before. No workers were complaining because automation and production repeatability created countless job opportunities. Suddenly, we evolved into less of an agrarian economy and more of an industrial one. Standards of living around the industrialized world improved by the generation, instead of by the century or two.
During those days, improved means of mechanical automation allowed both businesses and the worker to share in the rewards. Today, automation is entirely used as a means to lay claim to the rewards of capitalism, something benefiting only the ownership class. There really is nothing left to move on to. Value added is where the profit margins are the largest. Retail is 3% or so. Facebook is a past time, not something which an economy can be based on. Americans are just going to have to find a way to eek out a niche in a stagnating environment where money doesn't change hands quite like before. This means lower government revenues, lower upward mobility, and more competition for fewer dollars.
You realize that companies like Google just started out as a search engine. Fifteen years ago, I'm sure nobody expected this company to be developing cars that drive by themselves or glasses that connect the user to social media. Who's to say that Facebook doesn't get in on that eventually?
As another poster mentioned, technology is where it's at. I work in supply chain management at an IT solutions company. We ship hundreds of millions of dollars of HW and SW to our clients on a yearly basis, not to mention the thousands of hours we bill for design and implementation services. This is not going away any time soon.
Yeah IT. We all will sit in office and exchange e-mails. And houses, cars, cabinets, power tools will grow itself alone. And we can see Germany economy crumble because they do not have strong IT.
It is natural human behavior. We all want sit in office. But do you really think that IT will replace industrial sector?
But do you really think that IT will replace industrial sector?
Even if it did, it won't nearly employ as many people as the industrial sector did, despite the fact that the world population continues to grow by leaps and bounds, which is the problem.
The purpose of the IT field itself is to automate human capital out of production. It's kind of like we're now burying our own graves.
Even if it did, it won't nearly employ as many people as the industrial sector did, despite the fact that the world population continues to grow by leaps and bounds, which is the problem.
The purpose of the IT field itself is to automate human capital out of production. It's kind of like we're now burying our own graves.
That has not been my experience in pharma. We have IT up the wazoo, but it's there (as a tool) to help us do our jobs and imo it usually inhibits but that's another story.
Even if it did, it won't nearly employ as many people as the industrial sector did, despite the fact that the world population continues to grow by leaps and bounds, which is the problem.
The purpose of the IT field itself is to automate human capital out of production. It's kind of like we're now burying our own graves.
And what many people do not understand, and I do like a person at free market, there is question of added value. How much people would pay for a facebook account, and how much for an German car or Volvo truck?
I think that everyone here is missing my point. Look, I understand that Information-Technology is a growing sector and requires educated, talented individuals. However I know the IT sector would have no trouble finding qualified workers if we didn't have government propping up the college system. There would still be plenty of people going to college to study relevant topics and there would still be foreign IT workers on H1 visas. There wouldn't be the disconnect we have now, when the number of college grads is much greater than the number of jobs that absolutely require college educations. I'm arguing that the government pushing for as many college grads as possible has oversaturated the market with people qualified to work in IT and other sectors in need of people who are college material. This is great for business since they have an abundance of qualified workers and can raise their standards, hire 1 superstar worker who can do the work of 3 normal people, not have to train anyone, etcetera. It's not great for everyone who goes to college but ends up in the surplus pool of college grads and finds himself overeducated for whatever job he has to take.
I think that everyone here is missing my point. Look, I understand that Information-Technology is a growing sector and requires educated, talented individuals. However I know the IT sector would have no trouble finding qualified workers if we didn't have government propping up the college system. There would still be plenty of people going to college to study relevant topics and there would still be foreign IT workers on H1 visas. There wouldn't be the disconnect we have now, when the number of college grads is much greater than the number of jobs that absolutely require college educations. I'm arguing that the government pushing for as many college grads as possible has oversaturated the market with people qualified to work in IT and other sectors in need of people who are college material. This is great for business since they have an abundance of qualified workers and can raise their standards, hire 1 superstar worker who can do the work of 3 normal people, not have to train anyone, etcetera. It's not great for everyone who goes to college but ends up in the surplus pool of college grads and finds himself overeducated for whatever job he has to take.
I wonder if that's the case across the board regionally. I'm in MA (Boston area). We have a highly educated population and are simply loaded with internationals from all over the place. I don't get the sense that our educated population is un or underemployed due to saturation of college grads or educated H1 visas to boot. If anything, based on what I know, it's our uneducated population that keeps our unemployment rates at 6-7%. Correct me if I'm wrong on that. If what you're saying is true, wouldn't it play out here as well?
I think that everyone here is missing my point. Look, I understand that Information-Technology is a growing sector and requires educated, talented individuals. However I know the IT sector would have no trouble finding qualified workers if we didn't have government propping up the college system. There would still be plenty of people going to college to study relevant topics and there would still be foreign IT workers on H1 visas. There wouldn't be the disconnect we have now, when the number of college grads is much greater than the number of jobs that absolutely require college educations. I'm arguing that the government pushing for as many college grads as possible has oversaturated the market with people qualified to work in IT and other sectors in need of people who are college material. This is great for business since they have an abundance of qualified workers and can raise their standards, hire 1 superstar worker who can do the work of 3 normal people, not have to train anyone, etcetera. It's not great for everyone who goes to college but ends up in the surplus pool of college grads and finds himself overeducated for whatever job he has to take.
You're missing the mark in you point though.
The problem isn't the oversaturation of college graduates, it's the lack of job creation for decent paying jobs.
What you're discussing is merely a symptom of the issue.
As another poster mentioned, technology is where it's at. I work in supply chain management at an IT solutions company. We ship hundreds of millions of dollars of HW and SW to our clients on a yearly basis, not to mention the thousands of hours we bill for design and implementation services. This is not going away any time soon.
SCM will be a long-term growth field.
Most industrial jobs were a composition of rote tasks, and they were literally begging to be automated, with a massive reduction in headcount. Now those in that environment whine-of course, bank teller jobs were automated and vastly reduced via ATM's, travel agents were decimated by a book it yourself environment which came about because of this box, but the assemblers of widgets are expecting special treatment..treatment they do not deserve any more than the legions of ex bank tellers.
They need to adapt to the century they live in..not cling to the past.
Last edited by bobtn; 09-02-2013 at 11:44 AM..
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