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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (72593)	12/31/1999 12:15:00 PM
From: Simba	Read Replies (1) \| Respond to of 132070

<< If I were to look around at my friends and acquaintances, these conditions would seem contrary to fact. But the prosperity enjoyed by myself and my well-educated associates is simply not trickling down to the working class. See the Business Week/Harris poll in the Dec 27 Business Week: businessweek.com Much like the way in which the indices have been rising while the typical stock has been falling since last year, the economy is booming while the typical person is no better off than before. Welcome to the New Economy. >> Welcome to the world of global capitalism. If the WTO gets to implement the many on its agenda, my guess is we will see more of this. Manufacturing jobs will be exported to countries with a lower wage level. And the only jobs that will be well paying are ones where a BS will be a minimum education level. Even technology will have a depression in wage levels where many mundane engineering jobs such as software coding etc will be exported to countries where there is abundant educated labor willing to do it at half the wages. American companies will lead innovation and the people who are involved in this process (managers, professionals with a high degree of skill) will become rich beyond their wildest dreams (ala Marc Andreesen) and the average Joe-six-pack will be seeing his income levels stagnant or decreasing relatively speaking. This could be a political issue down the line where the Pat Buchanan's of this world will get more airtime. Just like the market is unstable when only a few stocks and indices go up the economy numbers and a highly qualified segment of population will do well while the majority may languish. Simba