Back To The Future! Entrepreneurship For All And The Economy in 20 Years Time.
The world is changing. That’s a good thing, without evolution nobody would get a chance. The world is changing in a way which means job loses as AI, (artificial intelligence) and robotics take over. With this comes a lack of security and possibly effecting the pennies in the pockets of those who most need it.
In order to work out a solution we must consider what the world will look like in 15-25 years time…
If AI is removing the positions put in place during the industrial revolution, undoing a few hundred years of industrial cultural change, what came before?
Before the industrial revolution the economy was built on cottage industries, small local economies made up of individuals building things for individuals. Today the idea of bespoke is more in demand and the demand can now be met by more specific techniques and abilities technology can afford. For example, it is easier for me to buy a wooden toothbrush from the only man who makes them in a small town in Alaska. Of all the toothbrushes in the world, I deem that the finest and, as I demand a very bespoke item I must then get it from the only person who builds them. We all wan cool shit and courtesy of the internet and a lathe in a mans garage, I can have cool shit the larger companies cant afford to make.
Now think of all the incredible one off things creativity can muster and someone (or you) can be the only maker of that item.
Okay, but what has this got to do with the changing economy and job loses?
We currently are in the midst of a revolution. In the early 19th century the weavers were smashing up their equipment as technology rendered them redundant. Lord Byron even mentioned it in a passionate speech in the House of Lords campaigning for their plight. We couldn’t care a jot now about those weavers, technology evolved and new things appeared to replace those old jobs. This is the evolution of manufacturing. Now though, the new jobs wont come, AI and tech replaces the human and some countries are considering a universal wage. What do we do?
It amazes me that finance and business isn’t a fundamental subject taught in school. It’s all very well learning to paint but if you cant afford brushes you might as well pick you nose. Consider the masses of talent wasted as a teenager gets himself into credit card debt and must waste all his energy keeping afloat when he could be creating something for him and his family. The student who graduates and then goes on a spending spree to be damned to a life of debt fuel subjugation for a generation when he could have been investing in a compound stock that sets him up for life and pays a tonne more in taxes to the exchequer, etc. etc. etc.
This education can plant the seed at an early stage which can be mobilized as the economy switches back (or forward) to bespoke and cottage setup. In 20 years time besides a regular job with less hours than 35, the average person should have a supplemented income doing something which directly contributes to their personal/local economy which they have complete control of. This local economy should strengthen the family bond as children can have access to the markets of their parents seeing trade in motion, the work having a closer connection to home and the local community.
When we talk of entrepreneurship we think Sir Alan Sugar, Elon Musk, Sir Richard Branson etc. but the reality is the bloke selling fly fishing gear he made himself from his garage. What he doesn’t realise is that with a few tweaks and a bit of knowledge, he could service the world with his special fish flies that work brilliantly in specific algae’s and currents. If he gets good at it, he wont rely on disappearing job.