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

More and more experts that prepare various surveys as well as check situations in the economies worldwide tend to observe that the global economies differ significantly from those we could find out about 20 years ago.

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Autor: MVolkmann

It is implied by the fact that, firstly, concerning industry we can recognize that it doesn’t have as important influence on GDP as it used to have in the past. Moreover, we are recommended to also remember that the popularity of this sector transfers to countries that are at present believed to be those, which develop the quickest, such as for instance China or India. The reason why such tendency happens is connected, above all, with demographic reasons, as both of above mentioned countries have more than one milliard of citizens each. This indicates that there is an overcrowded labor market there and, hence, 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 similar wage.

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Another meaningful fact is connected with improving popularity of services. This field of economy is increasingly popular in countries, which are considered to be mature economies, such as for instance USA and countries of the Western Europe. In majority of them from each 100$ generated by domestic producers, 70 per cent is made by companies in this area. It is more than twice and sometimes three times bigger than value of the commodities made in the topic of industry. As a result, for instance concerning planning our career if we don’t find it crucial to work in topic connected with our hobby, we ought to consider corporations.

In the light of the points mentioned above, owing to series of changes in the global economy, industry and exceptionally its importance has decreased substantially. 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 much less expensively in the countries presented above. On our continent, nonetheless, there is place for research & development, which is also crucial for the development of this area.

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