Major economies began to lose flexibility

The new morning
August 18th, 2014
Washington agencies:

Vice President's remarks reflected '' the Federal Reserve Board» the US Central Bank, Stanley Fischer, and the statements made recently in Stockholm, us concerns about the world economy at large. Years have passed to the great recession, which began in 2008, the major global economies are still reeling, as demonstrated in the second quarter growth data for the European Union which was disappointing.

Us concerns not only the u.s. economy but also in the world as a whole, the slowdown in Europe is reflected negatively on the United States and exports and tourist arrivals annually. And a growth of China's economy in government infrastructure projects and «addiction» Beijing incentive plans reflect negatively on America's largest trading partner.

But major disappointment came from Japan, where they are reported to find «abinomix», or the plan drawn up by Prime Minister Shinzo Abe, they relied much t after first stage showed good growth, but forecasts indicate growth of less than 1.5 percent, which could mean that the country is on the way to return to the custody of the recession experienced over the past two decades.

The biggest concern, it stems from a confused economists understand the mystery of the global slowdown, then buy it in his recent most expectations that in the past five years, turned out to be wrong, considering that economists avoid making long-term expectations, and became more committed to the expectations do not skip more than two economists. Fisher suggests that puzzled him because it is not known whether the major economies are slowing due to periodic or structural change reaches the production patterns of economic structures, infrastructure and human resources, are different from those currently available in most States.

In this analysis, illuminating Fisher School of economists is that the current changes affecting global economies deeper many courses known ups and downs. The human is known, at different periods of its history, the changes in technology have led to significant changes in their lives and their economies, such as the discovery of agriculture in primitive societies, and the industrial revolution in agricultural communities.

Today, these economists believe that the world is witnessing the first features of the information revolution based on the Internet. According to this school, the fear of the informatics revolution similar to those that marred the glittering era of the industrial revolution, the industrial revolution, for example, ruled that tailors and replace them with plants, fabric and oil-engines on horses and buggies, and electricity posts ended in street lighting at night by kerosene.

And the information revolution in the output of the labour market, working in customer service in banks review their role for ATM and flipped their jobs of relatively high-paying jobs to equal salaries and the minimum wage. And like ATMs, the telephone functions to devices working in customer services at major companies, and companies such as «upper» in the narrow market for taxi drivers.

In "Silicon Valley" in California, the largest information technology projects that will change a lot in lifestyles and eliminate many jobs and associated sectors. The Google company conducted a research on the car drive itself, the company bought «Vincent» working on developing individual and household devices connected via the Internet to smart phones. There are medical devices such as pressure monitor machines, which have become attached to the patients permanently broadcast results of their doctors, what grabbed the nurses role of measurement of pressure according to the old way.

This way out company «Kodak» working in the field of photography from the market after it disbanded its digital cameras in mobile phones, and almost two «Microsoft» and «Sony» they attach to them because of the superiority of «Apple» and «Google» and «Facebook» in bankrupt or no cell phone companies that have not kept pace with developments such as Motorola and BlackBerry» and «Nokia».