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For those fellow baby-boomers out there, all of you know that there was a time when this country was truly the center of the economic universe.  We were the world's supplier for the majority of goods in the world and especially those considered high-quality.

That was especially true in manufacturing. Up until the late sixties American car manufacturers dominated the world market.  American television manufacturers dominated into the late seventies or early eighties.  And so on and so on.

Of course the opposite is now the case.  We no longer dominate anything.  Our trade balance has been negative so long now that down looks like up.  The economy that matters most now is the world economy and not just the American economy.  In a word, globalization has occurred.

If I could put my finger on any one thing that began a globalized economy it's when this happened.  Specifically it's when this guy's idea began to be used industrywide and internationally.  As the article states, that was the start of cheaper transporation and jumpstarted a globalized economy. 

It allowed the world's manufacturers to compete much more evenly with American companies.  Then their cheaper labor began to be translated into lower prices everywhere.  Product quality improvement followed, especially by the Japanese and then the economic center of power began to shift.  And we all know the rest of the story.  All of this didn't just happen because of Mr. Tantlinger's idea but it certainly was a big part of it.

Yeah.  I'm back.

September 7, 2011 in Business, Current Affairs | Permalink


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Yes! Thank you - you have been missed!

Posted by: Katherine at Sep 8, 2011 1:20:57 PM

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