An advanced industrialized nation’s labor force disparity with global tradeable services can become more favorable if mentoring is adapted and recognized as a competitive advantage.
In the global labor force a computer programmer with 10+ years’ experience is equal in abilities. However, only the advanced industrialized nations have many computer programmers with 35+ years’ experience. That holds true in many tradeable service sector industries. Read More →
While attending college one of my accounting professors asked a simple question pertaining to reporting. How many financial and managerial reports need to be created before they no longer assist in decision making? He then coined the term “information saturation”, the point where producing more information will not affect the decision made. Read More →
In international economics there is a product life cycle concept. It basically means innovative products that originate in America will eventually be lost to foreign manufacturing. This is mainly caused by cost differences between countries. The only way for the American economic system to stay healthy is to keep being innovative.
The product life cycle has several stages:
- Create and Sell Product Domestically
- Expand Product to Foreign Markets
- Foreign Markets Growth Supports Local Mfg. & Distribution
- Manufacturing & Distribution Cost Cheaper in Foreign Market Export to America
- American Manufacturing is closed
The same company owned both manufacturing facilities, Read More →
To have a global economy would be one of the greatest achievements in human history. All countries regardless of their social and cultural difference would share the same business and economic system rules.
We would have uniform business contract rules (we do now with Incoterms), uniform environmental regulations, one money supply and one legislative body administrating our world economy. We would be one economic system. In addition because we are in a world economy cost would be somewhat equal throughout the world. Read More →