The 707 Revolution
And the Cost of Doing Business
by
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International trade has been active on our globe for a very long time. As an engineer, I believe that as international trade evolved, a global economic system (GES) started to evolve also. The GES is a lot like our weather system, our ecological system, or our social system. The GES is not dedicated to a prime goal. It has no prime goal! The dependent elements that are involved with the GES have their own special interest goals.
The elements involved with the GES are countries competitively engaged in commerce or trade. In some very substantial way all countries, including our own country, have been, are now, and will always be involved in this global economic competition. As our economic globe continues to shrink, the level of competition will increase!
Every country has a domestic economic system (DES). The DESs of most countries have evolved. They have no prime goal. They have no “team” dedicated to meeting a prime goal. However, a few countries do have a dedicated DES that does have a prime goal and a team dedicated to meeting that goal, and even though these are generally countries that historically repudiated capitalism, they are the ones emerging as the toughest competition to the West.
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About the Book
In The 707 Revolution, author Harvey Stump examines the economic impact that this phenomenon has had on the economy of the United States. During our country’s early years, corporate America had no major competition. It thrived, helping to create one of the greatest and wealthiest countries in the world.
In 1955, the Boeing 707 passenger jet was commissioned. This sparked what Stump calls the 707 Revolution, created by jet cargo transports and semiconductor technology that changed our economic globe. Suddenly, everyone was closer, and purchasing goods from other countries became much easier. In the sixties, a country’s cost of doing business became the most important element in its playing field.
The 707 Revolution has changed our globe as much or more than any war, the Industrial Revolution, any natural disaster, any culture, any religion, or any movement. Today, the United States is no longer competitive in enough markets to have good jobs for our work force. It is essential that we, as a country, do whatever is necessary to get our economy healthy.
Stump offers his thoughts on how we can reclaim our place in the global marketplace and work our way back to a healthy economy in The 707 Revolution.
About the Author
Harvey Stump retired in 1985 and became a serious bass fishing competitor. He started a plastic worm business with his son; he now designs and tests fishing lures. Born during the Great Depression, he served in the US Navy and later earned a BSEE from Purdue and a MSE from UCLA. He currently lives with his wife in Nevada.