We find ourselves in confusing economic times, it is hard to see what will happen or where we are headed.
Some would say our situation is a result of our capitalist system.
Others will say this is the best we can expect. This conclusion is difficult for many because the economy isn’t working for them.
Since the 70’s wages have stagnated. More recently inflation and interest rates have been low. Meanwhile, we aren’t seeing the growth we’ve come to expect from the past.
We can see this stagnation in the last decade. But our governments don’t seem to have any solutions left.
Some believe capitalism is the greatest economic machine ever discovered. This is true in many ways, never has the standard of living been so high. Never before have people lived so well.
Some will claim that the real problem is that we lost our faith in real capitalism. The machine is breaking down and we aren’t fixing it. Instead, we are moving away and asking for the wrong things.
There Are Winners
There are obvious winners in the globalization of markets. Those at the top, with access to resources, have the power to dominate global markets. And, so they have gained greater reach than ever before.
This is also good for poor countries, as they have gained innovations at a lower cost. It also means people have the ability to move to places where their skills can be utilized.
The socialists, Richard D. Wolff says capitalism is alive and well in China and India. But the game is over in the west, our economies have reached their limits and there is no room for growth.
There are calls for a leftist revolution. A push for more socialism, or a universal basic income. This could be a solution, as it would solve some of the problems that need to be fixed.
But this means the west has run out of gas and is cruising on fumes. While less developed countries are hungry, they will take the lead. In the future, they will be the source of innovation.
There Is Opportunity
In this lies an opportunity, for those with skills and a willingness to explore. Now the world is a place of opportunity for those up to the challenge and willing to take the risk.
This also means the innovators of today, have access to global markets. As well there are new job opportunities for those willing to get needed skills and move to new places.
While everyone braces for impact and backs away from the challenge. There are gaps opening for smart risk takers.
Instead of seeing this as a problem with the economy, it should be seen as a problem with our leadership. For those willing to take the chance to become a leader, there will always be opportunities.
Rather than blaming your country or the people around you. See this time as an opportunity to take big chances and huge risks. With a bigger globally connected world the opportunities are greater than ever before. With big opportunities comes the possibility of huge rewards.
The future belongs to those who see today’s problems as a readjustment of values. People who blame the government are going to be left behind, the government has shown it doesn’t know what to do. So we as individuals need to be the change we wish to see in the world.