Indiana's place in a globalized economy

April 20, 2010
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Who would have thought just a few decades ago that developing countries would so get the hang of research and development that they’d rise to challenge the West?

But they are. Hugely. As is argued in a recent Economist piece, developing nations are hustling to outdo each other and Western economic powers and play greater roles on the global stage.

They aren’t just making things cheaper, like $3,000 cars and $30 cell phones. They’re building sophisticated companies and reinventing business models.

Big multinationals are fueling the surge as they hope to profit from booming populations. For instance, General Electric’s largest health care R&D location is now in Bangalore.

Maybe it’s no wonder Warren Buffett bought stock in CSX. It’s tough for foreign competitors to take on a domestic railroad.

It goes without saying that these trends affect Indiana. Yet, the state has lots of deep strengths. Hoosiers are good at making things, and the world will continue demanding products ranging from engines to artificial hips.

Indiana also is in the middle of the world’s largest economy. Things and people pass through here on their way elsewhere.

And Indiana has some of the best farmland in the world. That’s good for churning out food products—another promising export, one with potential for lots of value-added.

How would you rate Indiana’s prospects of thriving during an era of rising global competition?
 

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  1. So as I read this the one question that continues to come to me to ask is. Didn't Indiana only have a couple of exchanges for people to opt into which were very high because we really didn't want to expect the plan. So was this study done during that time and if so then I can understand these numbers. I also understand that we have now opened up for more options for hoosiers to choose from. Please correct if I'm wrong and if I'm not why was this not part of the story so that true overview could be taken away and not just parts of it to continue this negative tone against the ACA. I look forward to the clarity.

  2. It's really very simple. All forms of transportation are subsidized. All of them. Your tax money already goes toward every single form of transportation in the state. It is not a bad thing to put tax money toward mass transit. The state spends over 1,000,000,000 (yes billion) on roadway expansions and maintenance every single year. If you want to cry foul over anything cry foul over the overbuilding of highways which only serve people who can afford their own automobile.

  3. So instead of subsidizing a project with a market-driven scope, you suggest we subsidize a project that is way out of line with anything that can be economically sustainable just so we can have a better-looking skyline?

  4. Downtowner, if Cummins isn't getting expedited permitting and tax breaks to "do what they do", then I'd be happy with letting the market decide. But that isn't the case, is it?

  5. Patty, this commuter line provides a way for workers (willing to work lower wages) to get from Marion county to Hamilton county. These people are running your restaurants, hotels, hospitals, and retail stores. I don't see a lot of residents of Carmel working these jobs.

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