The New EconomyCopyright 2001 by Revised 2005A million jobs and more are being lost each year overseas. Thousands of people each month are giving up hope of ever finding a job. This is a huge tragedy the effects of which have not yet even begun.A million jobs lost are a million people out of work. It’s a million people depending on an unemployment check to pay bills and feed their families. A million people out of work is a million children whose parents wonder how they are going to feed their children. A million jobs lost.That’s a lot of people wondering what to do next.
A million jobs lost is a million people bewildered.We are faced with a great challenge. But the challenge we face in lost jobs is the opposite viewpoint of what is really happening. No matter how politicians may rant about their opponents causing millions of jobs to go overseas, no matter how politicians may promise they will stem the outflow of jobs to Mexico, China and India, no matter how many promises are made; the outflow of jobs cannot be stopped. Nor should it be.
Productivity gains in the areas of job loss keeps inflation from rising. But these things are meaningless if you’re the one who has lost your job.A great restructuring is upon us. It is painful and it is arduous. It is challenging. But it is also necessary. For those whose jobs have been lost things could hardly get any worse. But the loss of jobs is a good thing. The loss of jobs to China and Vietnam, Mexico and Korea means the increase of opportunity where those jobs were lost. It may not look like it if you’re the one holding that final paycheck and your heart begins to flutter in panic.
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