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The United States: The Impact Of Advanced Technology And Globalization

810 Words4 Pages

The impact of advanced technology and globalization has diminished the importance of location in economic development and growth worldwide. Globalization has allowed many nations to maintain prosperity and a competitive edge by decreasing barriers to the international flow of goods, services, knowledge and human capital. The United States no longer has a competitive advantage in innovation and entrepreneurial culture since technology has expanded communication globally, more well-tuned educated and skilled workers are an abundance in the labor force. Government officials throughout various states and regional divisions are focusing on strategies to attract and retain talented workers and entrepreneurs to their communities through tax incentives, amenities and expenditure subsidies to boost economic activities and cultural …show more content…

Occupations that require a higher level of education, skilled training and work-based learning gravitate towards communities where the highly trained and skilled live. Globalization has transformed human societies, how we disseminate, and access information and ideas is constantly evolving the way we live and conduct business. In the manufacturing and service business, there is a continuous change in the global division of labor. U.S. businesses are facing stiff competition from foreign business that has to the same technology and lower labor cost. By offering tax incentives, subsidies and supporting cities infrastructure commitments with hopes to attract or retain businesses for economic development. However, the challenge that globalization poses for U.S. cities and town is the leveling of various local communities competing for the same goal which creates inequality among

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