Will the American economy survive outsourcing?

Question

I'm a high school senior planning for college - architecture or engineering of some type.
I've read some economics books (like The World is Flat) and realized many engineering jobs are getting outsourced to China and India.
This worries me - will the American economy still be successful in 10 years? Will it be possible for Americans to study advanced fields in technology and engineering, and still compete with the sweatshop and low-paying megamanufacturers overseas?

captmhunt, I don't believe it's the end of the world -- and I hope you're not being serious -- the democratic government can't stop outsourcing

Answer 1

You raise some interesting questions, especially for someone so young. In someways outsourcing is also a step in bringing economic prosperity and freedom to places that have previously not experienced it. Our brawn economy of manufacturing has been replaced by a brain economy. To stay strong, we need young people like you to study science and engineering to keep us on the forefront. Economic competition is good and drives us all to be better. If you could make $100,000 a year at McDonalds, what would be the incentive to improve yourself?

Answer 2

Yes, it will survive. That's like asking if the American economy would have survived the replacement of the horse drawn buggy by the automobile. We all know it did survive and brought greater prosperity overall for the economy.

But, it was painful for the buggy manufacturers. Our economy thrives on a concept of "creative destruction" (as coined by Joseph Schumpeter). It makes overall advances by destroying the old way of doing things.

One-hundred and fifty years ago we had a large percentage of population involved in agriculture (something like 30 or 40%). Now we have 3%. Certainly some people suffered as that transition took place, but overall the economy advanced.

Sounds like your interest, though, is less in how the economy will fare and more in how your own career might be affected. As an engineer in the U.S. you may very well face the same creative destructive forces that family farms and buggy manufacturers faced. But, certainly there will likely always be a need for some type of engineer in the U.S. And, as wages rise overseas, India and such will become less desireable.

Either way, engineering isn't a bad place to start. It's a good discipline that you can always augment with other types of training. I know tons of engineers by training that aren't doing engineering any longer, but credit their education for some or a lot of their success. I, myself, am a former electrical engineer, but now work in a finance/marketing function. Getting an engineer degree doesn't necessarily box you in, it can actually set you apart.

In the end, your attitude, your ability to learn, to get along with others, your integrity and your initiative will be much more valuable and valued in our economy. The fact that you obtained a degree is a good signal to employers that you have some or all of these traits. What you do with it is up to your own drive and creativity.

Good luck.

Answer 3

The economy will survive. As long as America is buying and selling stuff, there will be an economy.

Will it be the same in 10 years? Probably not.

Here's the trick, figure out which engineering jobs cannot be outsourced, and specialize in one of those.

Answer 4

NO... the New World Order as supported by Bush is going to destroy the U.S. economy... it's already destroyed the middle class and the lower classes are next... just as soon as the U.N. can take the guns away so the AmeriKan gubbernment can enslave the ignorant Amerikan public.

Answer 5

Perhaps it would be wise to fulfill your financial goals using your gifts, talents, and strenghts that you were born with.

Answer 6

Very well, Thank You!!

Answer 7

God, I hope so!!!