The willingness of energetic entrepreneurs to make and do things is what creates our modern-day lifestyle. Whether it is making hamburgers or tacos at the local restaurant or producing cell phones that function anywhere in the world, almost everyone has the ability to produce some item or do something that people want to buy.
One summer, my youngest son came home from college and announced that he wasn't going to work at the construction job where I had encouraged him to work that summer. He had been home just two days and informed me that he had solicited two fences to repair, two trees to remove, ten yards to mow and a garage to paint. He earned about twice the amount of money that summer that he would have made working for the construction company.
Willingness to work is the largest component to productivity. Surveys show that, on average, managers in the United States work 22 percent more hours per week than employees paid by the hour. The average work week in the United States last year totaled 37 hours, compared to 31 in Europe.
As you might guess, the United States leads the productivity coefficient index that international companies use to determine where to locate their businesses. U.S. businesses produce 41 percent of the world's output. U.S. public corporations account for about 47 percent of the value of the stock markets of the world.
The world is changing, however. Japan raised the bar in the 1970's and '80's. China and India are grabbing big chunks of the world's output. Mexico has stepped up to the production plate.
There is one point no one should miss in this changing environment. Increased productivity around the world can help everyone. More goods and services at lower prices do not necessarily create decline and are not evil. It is not logical for four percent of the world's population to produce 41 percent of the world's goods. One would hope that people who have been accustomed to earning less than 100 dollars a year would be able to participate in today's progressing world. Their progress does not have to handicap anyone else's standard of living. It is an exciting time and we must hope that the politicians do not foul it up.
L. Dean McGowan is Senior V. P. UBS Financial Services, 5080 Spectrum Dr. Ste 1000w, Addison Tx 75001; 972-450-4324; toll free from Mexico 001-800-010-1323; From the U.S. & Canada 1-800-288-1515. McGowan will be in Guadalajara on July 13 and 14 at the Holiday Inn Select. He will be in Ajijic July 15 through the 21 at the Nueva Posada (766-1444). To make an appointment, call his office. There will be an investment workshop in Ajijic at the Nueva Posada on Monday, July 17 from 10 -11:30 a.m. The public is invited.
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