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Why is there a Recession?

Some folks believe corporate mismanagement, greed, a global economy, war, terrorism and/or government irresponsibility have all led to the global recession that we’re experiencing. Maybe. I believe all of these could be symptoms… or perhaps queues that were missed by some of the greatest business minds in the world.

I think the recession is the climax of change brought about by the rapid progress and growth in technology. Four year degrees are too slow, manufacturing jobs are automated, and information accessibility is causing one of the biggest global disruptions in wealth and entrepreneurship the world has ever seen.

Does that mean all hope is lost? No! But it does mean that a portion of the world has shifted into another gear – leaving a lot of others behind. Those in the lead are not necessarily the wealthy or the educated… they are the entrepreneur, the adapter, the thinker, and the idea maker.

This is history repeating itself, but at an exponential scale that we’ve never seen before. Hang on tight, react quickly, do more…this is going to be a bumpy ride.

4 Comments

  1. 1

    History has repeated this before, many times over, and will continue to do so over and over again. It’s a natural cycle. 2 steps forward, one step back. Boom, bust, boom, bust, boom, bust. And mini-cycles within larger cycles.

    We’ve only just begun this current, and large, step back. The coming steps forward will be interesting, once they get underway.

  2. 2

    The recession is the result of panic in the financial markets trickling down onto the rest of us. Recessions used to be called panics, back in the 19th century. It’s irrational, just like the famous “irrational exuberance” of the 1990s tech bubble.

    Tha exponential pace of technological innovation is not the cause, but may be the cure for this recession.

  3. 4

    Interesting post Douglas, I think the blame game is coming at an end with the passing of the governmental baton, now we realize we have to take action. One of the biggest sectors that will change is going to be that of a switch in connecting to, rather than yelling at, your customers. Advertising is hurting the most from all the new social media; and no one knows what to do about it yet. Bumpy ride indeed.

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