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Article analysis of "Anger for Educated" - Essay Example
Pages 6 (1506 words)
Section One Schumpeter’s article, “Angst for the educated”, talks about the new trends in the job market in relation to education. It has the notion that among people, education is the gate pass to a life of financial success and security in the all parts of the world…
Indeed, statistics show that educated people are expected to earn more money in their lifetime than their uneducated counterparts in the United States. The gap between the two keeps in increasing. There are now changes that are taking place the today world that is changing this. It is now emerging that this relationship between education and jobs is about to change due to new developments such as deregulation, globalization and change in technology The article highlights the effects that globalization has in the job market of the rich countries. Globalization has benefits such as increasing the market for company’s product thereby increasing job opportunities. The disadvantage, however, is the drain to developing countries. The graduates from universities of the rich countries have to compete with those of poorer countries. This has been enabled by globalization because firms are able to find employees from all over the world easily. They do not have to employ from their own country as was the case before. Globalization has also enabled companies to move from one country to another easily. Most manufacturing companies are moving from countries with high labor rates, which are the rich countries, to the countries with low labor rates such as those in Asia. ...
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