dollar sign 300x300 What Will the Next Economic Drivers Be?

From 1982 to 2007 the U.S. economy had an unprecedented expansion. The twenty five year period was driven by innovation, economic global expansion, favorable economic policy, increase in population and expansion of debt. During this period most of the current professional started their careers. The resulting concern is the current professionals are not trained to offer advice in anything other than a near perfect economic environment.

Briefly, let’s review the 5 aforementioned economic drivers from 1982 to 2007 Dr. Albert Niemi, Jr. Dean of the Edwin L Cox School of Business at the Southern Methodist University. The first driver was innovation. The invention of the microprocessor and innovation of technology contributed to a new level of productivity and life style. Currently, Dr. Niemi does not see a new invention or technology to fuel growth. Also he does believe bio-tech discoveries may fulfill a pipeline in 15 – 25 years.

Second, free market economics has opened up the economies around the world. During the past 25 years former closed communist economies from Easter Europe, the former Soviet Union countries and some… More >>