Getting Happy with the Future

America has finally obtained what so many of us has wished and hoped for, the success of countries all over the world.  It’s not just European nations that have become prosperous.  Even China and India have become nations with growing middle class societies that can afford homes, cars, and wide screen television. China has been documented on television in the United States about its growing middle and upper classes.  Fareed Zakaria reports in Newsweek that China “will spend $200 billion on railways in the next two years, much of it for high-speed rail”.  The Los Angeles Times reported on October 21, 2009 that China’s growth is at 8.9% thanks to their stimulus and lending programs. BusinessWeek reported on the growing middle class in Turkey.   

The bad news is that their prosperity impacts our prosperity.  Why? If those other nations prosper they will compete with the United States for the sales of many of the products we export to the rest of the world.  Most other nations have lower labor costs than the United States and that affects our competitiveness.

For the United States to continue its economic dominance will require at least two occurrences. 

First there will have to be a new advance in part of our economy that will be a show stopper.  It will need the next new thing.  It will be something that everyone realizes is a “must have.”  The federal government is trying to motivate this idea with talk of the new “green” environment and the possible development of new energy sources. 

Second, the cost to produce this something new will be accomplished in the United States at a competitive rate with the rest of the world.  That evolution is already happening with the lower trade value of the American dollar.  Americans may not like this outcome because the cost of oil, cars, televisions, and cameras will be higher.  The cost of traveling to another country will be higher.   

Just as buggy whips and newspapers are part of the past, new ideas are part of the future.  Our inventiveness will make Americans happy with the future.