As you probably know, American firms announced approximately 50,000 job cuts this week. The news gave shape to an idea that had been forming in my head for weeks; are we heading towards a reverse of the urbanization of the last century? Look around today, everywhere you go, and ask yourself how much you see that is essential. Then ask yourself how many people are employed in the manufacture, distribution, and sale of stuff we don’t need? Hell, the financial sector was selling products that didn’t even exist. They were just pushing imaginary money around. So are we going to have to take a big step backward to progress as a civilization? Are we going to have to return to an economy where people produce goods and services of real value, where small farms and workshops re-emerge as engines of local economies? What do you think?
January 27th, 2009 at 7:51 am
No, our economy will recover and return to its former glory. Here’s why: we’re still pretty rich compared to most of the world. So although there is a definite dip today, I predict we will see recovery in the next 18-24 months.
However, there is a long term challenge coming as the world economy becomes more interconnected and the third world starts to disappear. We might have the money, but we don’t have the numbers.
Watch and ponder: http://www.youtube.com/watch?v=jpEnFwiqdx8
January 27th, 2009 at 6:36 pm
Everything is cyclical… The previous generation wanted quick, easy, scientific… Our generation wants authentic.