Being a baby-boomer myself, I have been looking at how business is run today as compared to how it was 50 years ago.
Fifty years ago, I was 16 years old. I remember vividly my dad either driving to Manhattan, which did not happen very often, or taking the subway, which was the more popular mode of transportation back then. (There was also trolley cars, but they did not go to the City.) My dad would leave early in the morning, walk to the subway that was about a mile away, take the subway and get to the City about one hour later, barring any problems. Once he was in the City he then again would walk at least another mile to where his business was located.
After a days’ work, my dad reversed his trek and got home about 7:PM.
I remember that the trains in those days did not have heat or air conditioning. So you froze in the winter and sweated in the summer. I remember because my brother and I would work for my dad when we had no school. My dad was in the what we called the ‘rag business,” (the garment center). He manufactured ladies’ sportswear, and in those days it was all done manually.
One of my jobs was after the material was cut to patterns and tied in rolls, we would load all those rolls onto hand carts and push the carts downtown (probably three to ergobaby four miles away) to a sweat shop to have the patterns sewn together. After the work was finished, we would walk back through the streets of New York and bring back the finished product. That trip was an all day affair.
I think about how that same ordeal would be done today.
The fabric would be rolled and cut by computer and the patterns would be put together in the same factory. The finished product would be on a rack in less than one hour, where it took days to accomplish the same task fifty years ago.
Today most of all the manufacturing is done out of our country, because the labor is so much cheaper over- seas.
This is just one industry that has been lost to other countries due to lower costs. I just cannot imagine how many industries we have lost because of lower costs overseas.
One industry that I know is very strong in the US (as well as overseas) is Internet Marketing. In fact, it is getting bigger and bigger, with a million new users logging on every day.