The past decade has taken our nations economy through booms and busts of virtually every industry but one. Internet and tech in the nineties were booming while oil, gas, and many commodities were in bust mode. In the late nineties gas was well under $1.00/ gallon and oil dropped below $10/barrel. We all know now that just ten years later gas is up nearly 300% and oil is up 900% from those levels. Tech burst in the first of the 2000's while real estate and banking began booming as new lending practices became the norm and new financial instruments were created. But even as these ebbs and swells occur the one industry that has seemingly been left out of the boom cycle is retail.

Global Outsourcing & Business Retail

Retail cannot boom unless there is money to be spent and as the economy entered a period of recession in 2001 retail slowed. Global outsourcing allowed many companies to offer the same services and products as before but cheaper than before. The consumer bought these products because they had access to easy credit and lower cost products but now as the cost of items increase and the availability of good jobs decrease the retail market is in decline. It is not in decline due to a bust however it is now in decline due to simple economics, a slowing economy which is being over run with more efficient competitors that we helped create through poor business contract construction and global outsourcing.

What America once defined as blue-collared workers we now consider a dying breed. These jobs have moved over seas. What we consider new-economy information-tech jobs we see that these jobs are beginning to move over seas just as fast. This leaves the jobs available in short supply. Many service oriented jobs remain and these are highly sought after. Regarding Bank of America, corporate downsizings aren't just happening because demand has dried up, many former BofA workers are returning to college to learn new software skills or even get CFP certification; some were getting real estate licenses. It is these real estate licenses, ironically, that helped to cause the financial crisis of the post-real estate bubble of the 2000s. Not all service jobs are built the same as we now see and it is unclear where these out-of-work employees will find employment now that the economy has moved on.

The Business Outsourcing Strategy

It's clear that our free market has embraced the practice of the global outsourcing of jobs but it is equally clear that our society has not yet learned to cope with this newly common business strategy. The United States has been the clear leader in economic growth, social justice, and educational merits for generations. We, as a country, have led the world to democracy, freedom, free markets, and advances in the sciences and as we have embraced the global outsourcing of jobs as a successful business strategy we now must learn how to cope with the "new" new-economy and renew our position as a world leader in economic development. At the same time, however, we must continue to understand the potential perils of embracing offshore outsourcing trends, employee morale, product quality, and vender reliability are just some of the issues that should be considered.

Currently our economy is supported by foreign manufacturers, foreign commodities, foreign financiers, and habitual reliance on the American consumer. We are just now, however, beginning to understand that some of these dependencies of the past must change for our nation's economy to remain viable in this era of corporate outsourcing. First of all we need to expect global outsourcing and learn how to exploit it for our own benefit. We need to understand what foreigners cannot do for us and develop these markets in our own borders. We need to identify the markets in which we can provide benefit to foreigners and develop these industries as well. And finally, we need to return to the ingenuity which made our domestic economy the most fruitful in the world. We need to emphasize once again the development of infrastructure in our country which will make our nation more efficient and we must emphasize the education of our students and workforce and prepare them for the jobs that cannot leave the country.

The Future of Global Outsourcing

In Thomas Friedman's popular best seller, The World is Flat, Friedman champions a push for education reform and a national push to increase our output of math and science graduates. It is these students and this future workforce that will continue advancing the national economy through ingenuity, creativity, and productivity. This revelation is realized by a society that does not simply compete with other economies but one creates new economies and then sends the grunt work on to others via global outsourcing.

I believe that as we continue to understand the implications of a truly free market, one that embraces global outsourcing, we will have to train our workforce for this ingenuity and creativity just as a company competes with other industry rivals. Manufactures make products and then sell them to retailers because their competitive edge is in the production of goods not the sales of it. As a country we must look at employment as if we were the manufacturer. Let's create the process and then outsource the jobs which others can do more efficiently.

As our economy goes through this period of slow growth, business needs to take notice that we cannot rely this time on short-term patches to the economic system we need to overhaul the system for a new economy. We once pioneered the information age and now we must learn to use it to enhance our economy once again and the standard of living of our people. Workplaces should now begin training employees for the jobs that are not easily shipped away through global outsourcing. Governments should be propping up education programs for our children. The media should be introducing our consumers and workers to the idea of ingenuity and not that of mediocrity. Employment should not be based on what jobs are available it should be based on what jobs will benefit the community and economy.

Education and Global Outsourcing

Education is the key to creating this ingenuity and the key to replacing our outsourced jobs with jobs that are more productive to our society. For generations foreigners have migrated to America to live the dream that was available no where else. For years migrant workers have worked our fields because American's have had other things to do. In this new economy foreigners do not have to come to America to do the work that our tech workers were doing just decades ago. Now we need to expect our education to take this new technology and create new jobs which will take advantage of the nut's and bolts work that is being outsourced globally. American's have other things to do.

Our blue-collar jobs have been on the way out of the country for some time now. These jobs have moved out for one reason alone, it is more economically efficient for them to be housed over seas; we now must take our employees who are out of work and encourage them to take jobs that are more suited for our time. Education will lead us there. While foreign emerging economies work on yesterday's work for us we must begin pushing our economy forward by making tomorrow's products and services here in America today.

Currently America is reveling in the productivity of the tech revolution and maybe it's time to invest that productivity into infrastructure projects such as networking the nation or into educational facilities for the advanced education in the sciences, those fields in which new economies are created. Our blue-collared workers could begin a second industrial revolution, building the infrastructure of a green nation, a nation that relies less and less on the commodities of the world and more and more on the ingenuity of the American people. Education is the key to taking advantage of corporate global outsourcing and investing in ourselves will keep the American economy one step ahead of the developing world.