Conference Presentation, Fireside Chat
Unleashing the Second American Century: Four Forces for Economic Dominance
- Upcoming events include a session with Shamar Rinpoche on March 12, an annual global conference at the end of April, and a May 21 forum featuring John Micklethwaite and Adrian Wooldridge to discuss The Fourth Revolution.
- Registration for the annual global conference is encouraged due to high demand, while brisk sales and author signings for Unleashing the Second American Century by Joel Kurtzman are planned for the May 21 event.
- Joel Kurtzman projects that the U.S. economy is emerging from a position of extreme power, with approximately $4.4 trillion in unspent corporate cash expected to be deployed for investment once confidence returns.
- Forecasts from the Energy Information Agency regarding U.S. energy independence have been accelerated from 2020 to 2017, with new natural gas export ports expected to be operational in 2015 and beyond.
- The rapid growth in oil and gas production is anticipated to diminish the relevance of OPEC and reduce U.S. political concerns regarding Middle Eastern instability due to decreased energy dependency.
- Kurtzman predicts that shorter product half-lives and logistics costs will drive manufacturing relocation to the U.S. and North American economies, creating a significant manufacturing base despite the lack of formal tripartite government institutions.
- Despite the possibility of political dysfunction and slower legislative progress in Washington, Kurtzman asserts that American creativity and the energy revolution will not be halted.
- Uncertainties remain regarding the specific timing for the U.S. to stop consuming natural gas domestically for exports and the immediate readiness of technology to extract oil from the Monterey Shale in California.
- Kurtzman anticipates the U.S. will eventually regain creditor status similar to the post-World War II era and that globalization will continue to advance despite political pushback.
- Future job growth is expected to remain sustainable due to new forces described in the "second American century," even as automation risks persist.
- Significant risks include potential repetition of the 2008 financial collapse if necessary reforms are not implemented in the not-too-distant future.