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Why The Rich Are Getting Richer And The Poor, Poorer

1836 words - 7 pages

The report of Robert Reich: “Why the Rich are getting Richer and the Poor, Poorer,” is an eye opener and a warning for society regarding unemployment that it will be facing and is currently facing due to a lack of technology and education. It clearly articulates that the jobs of routine producers and in-person servers have vanished totally as modern techniques have replaced them. The author has stated that the only people whose jobs are on the rise are symbol analysts. As stated in the report, symbol analysts are the real problem solvers. Their skills are highly in demand worldwide because they are the ones who first analyze the problem and then solve it. The Hart Report, on the other hand, also states the same problem of unemployment and the global recession which has left employers focusing on employees not only with specialists’ skills but also a “broader range of skills and knowledge” (page 6-7). The Hart Report clearly reflects what the needs of contemporary employers are, but the question is whether it is the universities or the students themselves who fail to cope with the requirements of the contemporary world which is filled with technological advancement and critical thinking. The Texas Work Source has also played an important role in examining what is actually missing in today’s generation and the reasons behind such a great decline in employment. The central

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problem discussed by all the three reports is the employment crisis which the millennials will be facing due to the educational problems, either in the schools or in the students, and at the same time the increasing demand of symbol analysts.
All three reports are an eye-opener for the millennials, as they have clearly demonstrated all the problems which millennials are facing and will face in the future regarding employment. With the help of several examples and discussions, Reich has clearly analyzed the future of millennials, i.e., the unemployment problems they will face due to globalization. The impact of technological advancement and the whole world “going global” is immense. AT&T stopped hiring workers in Shreveport and switched to Singapore and later from Singapore to Thailand because of the cheap routine producers available there as compared to the ones in previous locations. Moreover, an important reason for the decline of routine producers is the rise in the
number of Keypunch operators all over the world and their willingness to work at much lower wage rates than the ones prevailing in the U.S.A. Texas Instruments started hiring routine programming technicians in India and linked them to its Dallas headquarters via satellite as India has a large English-speaking population of technicians who are willing to work at a lower wage rate. The reason behind this shift of jobs from advanced to developing nations, which created a great recession in the advanced economies, was the globalization and advancement of technology. This advancement made the...

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