What Will Become of America’s Economy? May 18, 1999.

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Presentation transcript:

What Will Become of America’s Economy? May 18, 1999

The Global Economy is Real §Economic Rennaissance §US Productivity and Services §Change, Change and More Change §Education Haves and Have-Not §Change Means Growth

The Global Economy is Largely a Myth §What is the global economy? §Information flow in the global economy §The global competition myth §Evolution of the global economy §Globalization of Corporations §Caution for Businesses

Entitlement Programs are Sustainable  Defining Entitlements > The US is obligated to make payments to certain individuals who meet legal requirements. §Social Security Solvency §Contributions and Benefits

Entitlement Programs are not Sustainable §Government Action Now! §Demographic Changes §Restoring Balance

America Needs an Industrial Policy §Re-structuring the Economy §Trading Places

America Does Not Need an Industrial Policy §The popular fable of MITI §Follies of Japan’s Ministries §Privatization and Deregulation

America’s Economy May Become Intensely Regulated §Beyond Our Means §Hyperinflation Scenario §Deflation Scenario §Compounding Debt §Government Regulation Scenario §An Uncheerful Prospect §The Keys to Success

Economic Scenarios: From Boom to Collapse § Boom Times : Up, Up and Away § Consumer Spending §Steady Growth § A Stagnant Economy §Taxes and Regulation § An Economic Nightmare §The Income Gap