In the early 90’s, MBA students were taught that starving investments in emerging technologies was tantamount to triggering an “economic time bomb.” It wasn’t a matter of if the business would implode. It was a matter of when the business would implode. What was once a taboo in the business world is now the norm in the government sector. This dilemma lies at the center of the debt ceiling debate.
Taxes versus investment in nascent technology movements like hydrogen convergence may be what many mainstream commentators elude to when talking about out of control government spending. However until now, few of them have spoken about the resulting fire sale that takes place after an economic time bomb goes off. Delaying investments to address techno economic change always sounds great to lawmakers who have no skin in the game but they are the first to call foul when growth slows.
Every turnaround reaches an inflection point when growth starts to take off in an upward direction. Hopefully the current debt ceiling debate will prove to be one for the United States Economy. After President Bush was re-elected, there was a meeting at the Northern Virginia Technology Council with a trade delegation from Bulgaria which stressed that President Bush’s reelection signaled it was okay to ship jobs overseas. For members of the ebTDesign Forum, this signaled the start of a downward spiral.
As you know, the techno economic event that changed everything was the suspension of the Doha Round of Trade International Talks. This one act signaled the completion of the Globalization process. We at the ebTDesign Forum suggest that you and your peers consider the post-Globalization transition period to be a time for rekindling the competitive spirit that sent the first man to the moon.
Now is the time for President Barack Obama and lawmakers in Congress to come together in effort to put America on a more entrepreneurial footing. The choice couldn’t be plainer. Either you believe that American isn’t worth saving and should be pushed off a cliff or you make the early investments in emerging technology movements like hydrogen convergence. Hopefully, our political leaders will choose to ensure America’s post-Globalization well-being rather than to continue the Bush era fire sale.