| In recent years there has been a lot of discussion | | | | be able to regenerate itself. If environmental |
| about the changes to the economy resulting from | | | | collapse happens it is expected that climates will |
| the retirement of the baby boomers, the coming | | | | change damaging the economy of many |
| environmental difficulties related to global warming, | | | | countries, burning out many farms, lose of species |
| the mitigating effects of globalization, and the | | | | that can no longer survive under the earth's |
| increasing price of oil. Each of these items could | | | | atmosphere, and flooding of productive land. Fixing |
| have a serious negative affect on both U.S. and | | | | this land requires a sizable corporate, government |
| global commerce if they come true. | | | | and world wide resources that are likely to slow |
| Assuming that all of the doomsday analysts that | | | | down economic growth. Consumers will have to |
| believe in any of these aforementioned difficulties | | | | pay more for products that slowing down |
| were correct, few could imagine a day when all of | | | | production even further. |
| them were true at the same time. What would | | | | Globalization: U.S. workers must only be asked |
| society and business look like? Who would be | | | | about the effects of globalization on their lives to |
| successful and who would suffer under the new | | | | truly understand people's opposition to it. Where |
| economic realities? Is it all simply made up in our | | | | manufacturing workers made $20.00 per hour |
| mind or is it something that could be very true | | | | they are now drawing $10.00. Despite these lower |
| and disastrous? Let us discuss each of these | | | | wages inflation hurdles forward, colleges become |
| items separately. | | | | more expensive, and housing costs are rising. In |
| Retirement of Baby Boomers: The baby boomers | | | | the end, the American worker loses his position |
| represent a time when the economy was | | | | as labor becomes abundant and jobs sparse. |
| zooming along and people could find jobs without | | | | In the event that American workers can afford |
| really looking. People typically stayed employed | | | | less they will begin to purchase the basic |
| with the same company their entire lives and | | | | necessities of life versus Gucci watches, and two |
| when they retired a pension and gold watch was | | | | new cars. This slow down in purchase is likely to |
| waiting for them. | | | | change the mentality of the average American |
| Baby boomers were born between 1946 and | | | | person to survival and maintenance of family |
| 1964. Assuming that they work about 30 years | | | | wealth. Relationships will become defined by |
| and entered the labor market around 20 years of | | | | wealth and influence leaving the lower class bared |
| age that would mean nearly all of them would be | | | | from better jobs. |
| out of the work force by 2014. When these baby | | | | Rising Price of Oil: There is only so much oil in the |
| boomers leave, so will a huge source of revenue, | | | | world. As oil becomes more important and limited, |
| knowledge and earning capacity. The loss of the | | | | its costs will rise. Not only will the cost of the oil |
| baby boomers means that the value system of | | | | but gasoline, heating costs, plastics, and just about |
| the country will shift to Generation Y which is | | | | everything else will rise with it. In the end the |
| much more self-centered and fluid than the | | | | American consumer will be paying more for less. |
| originally thought selfish baby boomers. Thus the | | | | This dependence on foreign oil combined with the |
| economy will be affected by this shift and likely | | | | harmful affects of burning fossil fuel is creating an |
| lose a certain kind of mature stability. | | | | alternative energy crisis. Companies like Ford, GM |
| Environmental Collapse: The world is beginning to | | | | and Chrysler are racing to build more fuel efficient |
| be concerned about the coming effects of green | | | | vehicles. Ethanol processing plants are popping up |
| house gases in the environment. It is believed that | | | | all over the Corn Belt, new discussions have |
| in the next 20 years the environmental problems | | | | emerged on nuclear energy, business associations |
| are not solved it will be almost impossible to solve | | | | are soliciting government for reform, and wars |
| them later. In other words the environment won't | | | | are now being fought over the commodity. |