Seth Godin calls it the “forever recession” and describes companies all over the developed world as being in a “race to the bottom”. Unless we’re happy to stick our heads in the sand it will pay to think about what this means.
“There are two recessions going on.
One is gradually ending. This is the cyclical recession, we have them all the time, they come and they go. Not fun, but not permanent.
The other one, I fear, is here forever. This is the recession of the industrial age, the receding wave of bounty that workers and businesses got as a result of rising productivity but imperfect market communication.”
This “forever recession”, combined with the rise of a highly-educated, wildly-competent, excellent English speakers in countries like Bangladesh, China, India, The Philippines etc, means that many companies, and many jobs, will shortly cease to exist.