The Impact Of Technological Revolution On North Carolina's Economy

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Globalization is not a new phenomenon. However, if the average person on the streets was asked about globalization, the overwhelming response would be connected to newer technologies such as the Internet, tablets, or cell phones. This response is due to the rapid expansion of the globalization concept occurring during the technological revolution. The technological revolution is credited for enhancing the U.S. and global economies. While this is true, the effects of the technological revolution varied around the U.S. This paper will focus on the technological revolution effects on North Carolina’s economy. The technological revolution spanned many decades, but for the scope of this paper will be limited to the 1990s through the…show more content…
This shift from the traditional manufacturing industry to the information technology industry was undeniable. In fact, “the rise of the information technology industry in the United States made it much easier to make the case for globalization.” A case for globalization is what many chief executive officers (CEO) wanted, as they were lobbying for future trade agreements. Knowing that new jobs were booming in the highly profitable technology industry, these lobbying efforts seemed more reasonable. In addition, economists were mesmerized by the rapid growth created by the technology industry. The technological revolution was obviously more attractive and rewarding to those focused on the big picture. Thus, economists and politicians began to ask questions about outsourcing manufacturing as the change in industry focus occurred in the U.S. Gideon Rachman wrote: “Why not outsource the dirty old factories to somewhere else in the world and do the clever, lucrative, higher value-added stuff in the United States?” This question appears to be spot on because that is what occurred.
Politicians began to engage is discussions about technology and the effects it could have on the global economy. President Clinton was in office, and was a proponent of technology and globalization. He often would speak about technology and the effects of
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