Check past for future

Regarding the March 13 editorial: No driver needed! The momentum on this ride is fully self-sustaining. We've been in
Sandusky Register Staff
May 24, 2010

 

Regarding the March 13 editorial:

No driver needed! The momentum on this ride is fully self-sustaining. We've been inducted as official members into the 21st century. The GEM report confirmed it. And to give you a sneak peek of events to come, check your rearview mirror. The confluence of three powerful forces-at-work: a graying planet, globalization, and the onrush of technology will wipe away life as you have known it like a blade across your windshield on a stormy day. The forecast is for the developed world to top the population curve and begin declining in six years. Expect one in four Americans to be over the age of 65 by 2025. If you want young people, import them. People younger than 24 make up 50-65 percent of the population of the Middle East.

Count yourself lucky that the manufacturing employment base is holding its own at 20 percent. The forecast is for only 4-8 percent of all jobs to be provided by direct manufacture by 2015. And to get the record straight, compensating highly productive workers with high wages is never a handicap. In fact, growing worker productivity, according to the Economic Report of the President for 2007, is key to maintaining global competitiveness, raising standards of living and generating revenue to meet public needs. Let's learn how to work smarter not harder!

Buy a 5-15 percent increase in economic growth by simply increasing the average level of schooling in the county by one year as reported by Carnevale & Desrochers. Just think how much growth could be wrung out of an improvement over a 69.9 percent student graduation rate (2005-06).

If you want to know what the future holds, reserve a seat for the March 20 University Business Symposium at BGSU Firelands. And by the way, we're all in this together!

Kay E. Strong

Associate Professor of Economics

BGSU Firelands