Wednesday, October 25, 2006

Interesting foreign article on the U.S. economy

Here is an interesting article on the general state of the American economy from the German magazine Der Spiegel. The general tone of the article is that in aggressive promotion of globalization the United States has undermined itself. In globalizing, the U.S. has deindustrialized itself. Consequently, the American middle class is starting to decline relative to the middle class of other developed countries.

The process of deindustrialization is of concern to those in the engineering fields because it translates to narrowed job prospects.

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