Globalization
Globalization: An Engineer’s Call to Greater Achievements
Every few years the issue of globalization is raised before international government organizations, often times meeting negative responses due to the fear of a world culture consisting of increased social inequalities and environmental degradation. How then can engineers benefit from globalization? Globalization provides a bridge across nations and culture to technology, people, diversification, and information; it also allows the bridge to be crossed with relative ease. Numerous times throughout history the aforementioned resources have been praised as an institution’s greatest asset. These assets act as a catalyst for unity and prosperity within an organization. In a globalized world, engineers of the future are given an opportunity that past engineers were unable to explore.
Technological improvements around the world allow for the continued outsourcing of jobs to regions that can accommodate lower costs. Some may find this to be a negative connotation with globalization, however the outsourcing of jobs allows for greater global competition, which will create higher labour productivity. The only way to increase the standard of living is to increase the economic growth rate of a nation, which can be accomplished through increased labour productivity. Paul Krugman, an American economist and professor at Princeton University, expounds five ways to increase labour productivity. His list comprises of higher employment rates, higher consumption, an increase in the price of exports, an increase in the number of imports, and technological change. Of these five ways to increase labour productivity, technological change is the only solution providing a long-term fix. Bearing innovative technological solutions is a job fit for engineers and a task that cannot easily be outsourced; therefore engineers can benefit from job security and stimulating work. Engineers of the future will be at the forefront of...
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