Tag Archives: technology and unemployment

The other elephant in the room (and every room in the whole world)

Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation, Adjunct Professor(ret.), Ross School of Business, University of Michigan.

Gather a roomful of people with vague ideas that our millions of displaced workers can return to jobs remotely resembling what they used to do—“Let’s get America moving forward again”—and technology will be an elephant in that room. I didn’t even mention globalization, which might be an even larger elephant. Domestic competition and new technology alone would drastically alter our future society even if Americans were the only residents of the planet began Earth. But globalization alone also is a sufficient force to set our old economy and workforce paradigm on its head. With Mumbai or Tokyo or Stuttgart or Singapore virtually as nearby as an industrial park here in the U.S., nothing will ever be the same again. Elephants are the world’s most powerful work animals, and we have a pair in tandem pulling us into the 21st Century. Unlike a tractor, they can’t back up. And the sum of these two elephants, technology and globalization, is greater than their parts. Globalization is the one most commonly thought to be reversible, at least in part. The only way to beat it is to join it, and be competitive.

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