Did the Internet Hurt the United States Economy?
After nearly over 15 years of a growing Internet economy, I thought to myself, has the internet actually hurt the United States economy.
I mean when you have to think, since the internet has arrived, the U.
S.
economy has basically been on a downward spiral.
We are truly in a global economy now, With so many jobs being outsourced to developing countries with low cost labor, the U.
S.
is experiencing long periods of high unemployment rates.
The middle class of America is becoming smaller and smaller due to job outsourcing.
Call centers were the first to start being outsourced, but now web designers, programmers, research and development centers and many more are being sent to other countries.
Globalization is increasing wealth in most places and driving new, fresh economies.
Even the wealth in the United States has not stopped growing with GDP staying positive.
However, the distribution of wealth in the United States is where the major gap is.
The rich in this case are getting richer while more middle class citizens are moving into lower income/poverty levels.
This is the one area where Capitalism fails to serve the whole country.
The internet is becoming more and more efficient and makes many aspects in your everyday life much easier.
I could not think of a world without the internet.
This efficiency has come at a cost though.
Brick and Mortar businesses have closed in record numbers, causing huge losses in customer service and managerial jobs.
The wages lost for these middle class citizens have lowered the purchasing power of the average American.
American companies however are getting richer as they are able to cut costs yet still grow their business by selling overseas.
They can sell the same product there at a tenth of the cost and still make a profit.
The taxes the American government places on the products being brought in are not enough to make the prices high enough to make it a tough decision for American buyers therefore making American made producers less competitive.
I did not grow up during the American pride era where everyone always talked about the slogan "Made in America" but I do understand why it was done now.
I am not an economist and don't know how it will all play out for the United States economy, but I do believe the eventual downfall of the U.
S.
will not be a war like previous super powers but the internet will be a huge contributor.
Sometimes things that make life easier in some areas end up making it harder in others.
I mean when you have to think, since the internet has arrived, the U.
S.
economy has basically been on a downward spiral.
We are truly in a global economy now, With so many jobs being outsourced to developing countries with low cost labor, the U.
S.
is experiencing long periods of high unemployment rates.
The middle class of America is becoming smaller and smaller due to job outsourcing.
Call centers were the first to start being outsourced, but now web designers, programmers, research and development centers and many more are being sent to other countries.
Globalization is increasing wealth in most places and driving new, fresh economies.
Even the wealth in the United States has not stopped growing with GDP staying positive.
However, the distribution of wealth in the United States is where the major gap is.
The rich in this case are getting richer while more middle class citizens are moving into lower income/poverty levels.
This is the one area where Capitalism fails to serve the whole country.
The internet is becoming more and more efficient and makes many aspects in your everyday life much easier.
I could not think of a world without the internet.
This efficiency has come at a cost though.
Brick and Mortar businesses have closed in record numbers, causing huge losses in customer service and managerial jobs.
The wages lost for these middle class citizens have lowered the purchasing power of the average American.
American companies however are getting richer as they are able to cut costs yet still grow their business by selling overseas.
They can sell the same product there at a tenth of the cost and still make a profit.
The taxes the American government places on the products being brought in are not enough to make the prices high enough to make it a tough decision for American buyers therefore making American made producers less competitive.
I did not grow up during the American pride era where everyone always talked about the slogan "Made in America" but I do understand why it was done now.
I am not an economist and don't know how it will all play out for the United States economy, but I do believe the eventual downfall of the U.
S.
will not be a war like previous super powers but the internet will be a huge contributor.
Sometimes things that make life easier in some areas end up making it harder in others.
Source...