The Economist Debate: Worker Competitiveness in Wealthy Countries is on a Permanent Decline
Posted by: in General work pimps
There are only 3 days left to vote in The Economist Online Debate on the following proposition: “The competitiveness of workers in today’s rich countries is in permanent decline.” To participate in the debate, click here.
Currently, 64% of respondents voted against the proposition. However, if you believe otherwise, there are 3 days left to sway the vote.
The comments section of the debate is rather interesting. Here are some excerpts:
From Jon Ingham (emphasis mine):
“The world’s human capital is becoming more evenly distributed – as developing economies catch up in terms of skills and productivity – and as temporary and permanent movements between countries increase. And technology will continue to obliterate some jobs in developed economies – even though in the main I think technology tends to change rather than eliminate the demand for human activity.”
From Ravmanj (emphasis mine):
“What seems to be in decline is the real market value of Western education focused on the soft sciences. Rich countries (especialy Americans) have to stop pampering our students with ever-declining standards in mathematics and science. Students who graduate with a degree in the soft sciences are promised the world by the education elite, but can deliver very little when it comes to generating profitable ideas in a multi-national business climate. America needs to focus on training (and perhaps retraining) its workforce towards more analyitical skills and trades.”
From Gianluca Marcellino (emphasis mine):
“…like in many other economy evolutions before, yes this evolution is making things better for all including many “workers in today’s rich countries” - compared at least to what earlier models could have reached if left unchanged. Still, each individual worker in today’s rich countries is seeing some of her advantage erode every day. Unfair advantage it has certainly been, yet good to enjoy while it has lasted.”
As for my thought, it certainly looks that worker competitiveness in wealthy nations is on a decline - at least where knowledge work is concerned. It’s not surprising, since the technology available to us this day (the internet, computers becoming more inexpensive) has granted us to conduct business in a global scale more than ever. On the surface, the first major difference between the knowledge workers from developing countries such as China, India, and the Philippines is the price. And why not? Cost of living in these countries is cheaper relative to the US and the UK, and as the population in these countries becomes more educated, more literate, and more bilingual, they’ll be a force to be reckoned with.
Do I think that this decline of Western worker competitiveness is permanent? No. Clearly, we’re in a transitional stage where the developing nations of the east are showing the strength and quality of their workforce. If the west wants to catch up, they need to restructure their workforce and train their people to both deal with these changes in the global workforce and find the areas in which they can be uniquely competitive.
What do you think? Do you think competitiveness of workers in rich countries is definitely declining? If not, why? If so, do you think this decline is permanent?
Pic Credit: Screencapture from The Economist
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