If you’ve been paying any attention to the news lately, you know that Wall Street has been in serious turmoil. The subprime crisis and “credit crunch” finally took a devastating toll on some of the world’s biggest financial companies, causing bankruptcy, a major acquisition, and yet another instance of government intervention.
Perhaps what has been most fascinating about this seemingly US-based crisis though is the massive effect it has had on the world economy as a whole. Indeed, as the US stock market has gone into an outright tail-spin, most global markets have followed suit. This interdependence of the global economy is causing many to question not only what must be done to reform the US financial system, but also how emerging economies will learn from our mistakes.
To help bring some clarity to this highly confusing situation, I’ve compiled some quotes from reputable sources that provide a diverse set of perspectives on the current financial crisis.
During this past summer I participated in my first internship at a large company. Like in many corporate jobs I was part of a small team of individuals that worked together closely on a daily basis to develop projects and solve problems. While I did not find that part of the job to be any bit surprising, there was one thing about our team members that I had not anticipated:
Half of them live in India.
No, these people were not consultants nor people we interacted with only once and a while. They were our co-workers, and just as much so as the guy in the cubicle next to me. Through telephone, instant messaging and video conferencing, both my American colleagues as well as our team members in India operated as one cohesive unit.
It’s hard to believe that seven years have passed since the horrific attacks of September 11th. For most of us, Americans especially, it is a day we will never forget, and each year that passes provides us the opportunity to reflect on where America has come since that tragic day—to consider that which has changed, and also that which has not changed.
As part of my own personal reflection on the seventh anniversary of September 11th, I decided to re-read a chapter from one of my favorite books, The World is Flat by Thomas Friedman, which is titled “9/11 versus 11/9.” It is a wonderfully written finale to the book that I feel accurately describes the impact of 9/11 on the past seven years, as well as its implications for America’s future.
Today we were shown this video in my business management class as part of a lecture on globalization. The video’s description says that it is intended to “kick start the discussion for teachers and administrators for 21st Century skills, classrooms and the Global Economy.” It’s a collection of powerful facts and statements covering many hot topics including technology, emerging economies and the current (and future) state of education.
You need only look briefly at any news source to realize that Generation Y is going to be a significant force in determining the 2008 US Presidential Election. Indeed, the numbers are showing historically higher levels of participation and awareness in the political process by younger voters than ever before.
For some of us (myself included), this will be the first election we will vote in, and as newcomers to the political arena, it is essential to identify the needs and desires that are unique to us as a generation.
One area I think is especially important for our generation to consider during the this historical election is how each candidate will choose to lead and prepare America for the globalized 21st century. While the future is never certain, one thing that we can be confident in is that the America Gen-Y is poised to inherit will be very different from the America of days past. No longer will the US be the infallible superpower past generations took comfort in. Instead, in the coming decades the “flattening” forces of globalization will subject America to new challenges and obstacles never before seen in history.
In regard to this rapidly-approaching reality, I believe Millennials should be especially aware of each candidate’s potential to lead America on a global scale. To help get us started, I have compiled a brief comparison of both McCain and Obama’s positions on global issues, highlighting positions for each that are “Global” and those that are “Not-So-Global.”
Okay, I realize it’s not August anymore so I’m a bit late with delivering Global Millennial’s first monthly link post. I know I already did a link post a couple weeks ago, but that was when I (foolishly) intended to do them on a weekly basis (ha ha). Instead, I’ve devised something more realistic and arguably more valuable.
Globalization Pulse-Check will be a periodic link post published at the end of each month. These posts will include a handful of links to what I believe are the most interesting and informative articles on globalization to come about during the past month. I sort through tons of articles daily via Google Reader, so consider me to be your personal quality-filter on all things globalization.
Public perception of Generation Y, while diverse and often contradictory, is sometimes just downright absurd. As my frequent web-browsing has revealed, there seems to be a good amount of older folks who are just tickled by depicting us in some of the most outrageous ways imaginable.
Just for fun, I decided to run a Google image search for the phrases “Generation Y” and “Millennials” to see what would turn up. Here are 8 of the most ridiculous findings…
If you think getting a college degree is your one-way ticket to a high paying job, you may be in for some serious disappointment. As explained by a recent Wall Street Journal article titled “The declining value of your college degree,” the once-prestigious accomplishment of graduating college is becoming merely a bare essential pre-requisite for employment. The result? Stagnation in the wage earnings of college-educated workers:
For decades, the typical college graduate’s wage rose well above inflation. But no longer. In the economic expansion that began in 2001 and now appears to be ending, the inflation-adjusted wages of the majority of U.S. workers didn’t grow, even among those who went to college.
Globalization is one of the primaries factors driving this phenomenon. As college education has become available to greater and greater numbers of people across the world, particularly in emerging market nations, bachelor’s degrees have become a dime a dozen.
These days, one of the most popularly discussed (and criticized) characteristics of Generation Y seems to be our reputation for widespread “disloyalty” in many aspects of life. Whether it is towards jobs, consumer brands or even banks, there are countless areas in which studies declare our generation to be utterly resistant to commitment.
But what about loyalty to one’s country? As the 2008 Olympics are in full swing, patriotism is a hot topic on everyone’s mind, and it likewise seems fitting to think about what role it will play in the future of Gen Y.
The issue of “Global Citizenship”
Wikipedia defines the term global (world) citizen as “referring to a person who disapproves of traditional geopolitical divisions derived from national citizenship.” It is an increasingly relevant concept that I think will grow to become associated with Gen Y in the coming decades, and one that already seems to be raising questions about new “disloyalties” it could bring about.
Eastern Kentucky University to offer globalization major
A university in Kentucky, of all places, has recently announced their launch of a Globalization and International Affairs program that will essentially allow students to major in globalization. It’s about time a school put together a program like this. Talk about scoring some major global factor!
"America is f*cked…I pity Americans about to graduate college. They’re up against a hungry, polite, Excel-proficient Indian army." — Timothy Ferriss, The 4-Hour Workweek
If you’ve been paying any attention to the news lately, you know that Wall Street has been in serious turmoil. The subprime crisis and “credit crunch” finally took a devastating toll on some of the world’s biggest financial companies, causing bankruptcy, a major acquisition, and yet another instance of government intervention.
Recent Comments