Industry – a field, which role in the recent years has considerably dropped

More and more specialists that prepare diverse surveys as well as check situations in the economies globally tend to point out that the global economies differ substantially from those we could discover about 20 years ago.

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Autor: MVolkmann
It is proved by the fact that, first of all, concerning industry we may discover that it doesn’t have as substantial impact on GDP as it used to have in the past. In addition, we are recommended to also not forget that the popularity of this sector transfers to countries that are contemporarily considered to be those, which develop the fastest, such as inter alia China or India. The reason why similar tendency happens is connected, first and foremost, with demographic reasons, as both of these countries have more than one milliard of citizens each. This proves that there is an overcrowded labor market there and, consequently, people in order to work might accept far weaker salary than those in Europe, who would be able to live only in quite poor standards for such wage.

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Another meaningful fact is related to rising popularity of services. This field of economy is increasingly popular in countries, which are thought to be mature economies, such as inter alia USA and countries of the Western Europe. In some of them from each 100$ generated by domestic producers, 70 per cent is made by corporations in this area. It is more than twice and sometimes three times more than value of the products made in the topic of industry. That’s the reason why, for example concerning planning our career if we don’t find it crucial to work in field connected with our hobby, we ought to consider corporations.

To sum up, due to series of changes in the international economy, industry and above all its importance has reduced significantly. This implies that in the future it may be possible that physical work would be no longer worth its prices in Europe, as it is done significantly less expensively in the countries presented above. On our continent, on the other side, there is place for research & development, which is also crucial for the progress of this area.