Warren Buffett wrote two articles in Fortune in the past two years explaining how America's economy will actually soar through 2015. He outlined some "17-year cycles" in the US economy that have recurred regularly over the last 100 years. The 1998-2015 will be like the 1930-1947 period and the 1964-1981 period when US GDP climbed around 360-410% during these two periods (but also saw the Dow flatline due to rising interest rates). America's economy is cyclical, and by 2015 America's GDP will be around $40 tril. so don't worry about America's economy.
In a capitalist system, there is no such thing as "guaranteed" employment, even for white collar workers. As Rush Limbaugh would say, this is part of the "creative destruction" of capitalism. ...The alternative is communistic "guaranteed" employment, which is a failed formula.
There is a big difference between "guaranteed" employment and solid available employment. I never once indicated that I am in favor of State "guaranteed" employment. I am however saying that job opportunities are an essential element to a sound economy. America has enjoyed prosperity because there was always a huge supply of job opportunities. Remember the slogan, the land of opportunity? Once that tide turns and Americans can no longer find jobs because the jobs are being moved to India, China, etc. than I believe the American economy will be negatively impacted.
White collar workers who lose their jobs simply have to retrain and find other jobs.
This is a lot easier said than done. Many people in white collor jobs spent time and money going to college to get degrees in a specific profession. Going back to college again is not as easy once you have a mortgage & bills to pay and no job. Also, how would you go about picking a second profession, theoretically you picked the first one under the impression that you were picking a lifetime career. So maybe today there is a demand for nurses so you go back to school to be a nurse, then what happens if they start importing nurses from 3rd world countries, and now you find yourself unable to get a job in the second profession. After all there is no guarantee of another professional job.
There's no doubt that some white collar jobs will get destroyed. But so far, I don't see any evidence of America suffering a net outflow of white collar jobs. But even if that were to occur, that's all a part of the capitalist process. If Indian programmers an do a job more cheaply than American programmers, so be it. If Chinese chip designers can do a job more cheaply than American chip designers, so be it. That's the only way to go, because the alternative ("guaranteed" employment) eventually only leads to inefficiencies. But luckily for America, there's no evidence of America's white collar workforce getting shrunk in any substantial away.
I think you are wrong. A lot of white collar jobs are leaving this country. I always said that I do not blame companies for finding the cheapest workforce available. I am sure that people in India and other 3rd world countries will benefit substantially from the globalization of the economy. My contention is that America and specifically middle class America will loose. I think you have misunderstood my assertions. I am simply asserting that AMERICA will not benefit. And maybe the philosphy I should start to take is "so be it".