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21david_snyder@verizon.net 21

BLAME IT ON THE WEB !

 

THE BROADBAND INTERNET has accelerated  

two long-standing workplace trends: 

• global economic integration (Y2K) 

• information automation (“infomation”)

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debt, deleveraging & AUSTERITY

Asset Bubbles and Their Economic Consequences

A 2010 McKinsey Global Institute analysis of 45 historicepisodes during which 10 developed nations and 4 developing nations significantly reduced their total debt-to-GDP ratios since 1930, found:

 • long periods of deleveraging nearly always follow major financial crises;

• deleveraging lasts 6 or 7 years, on average, during which

• public & private sector debt are typically reduced by 1/3, while employment contracts & stagnates.  http://www.mckinsey.com/mgi/publications/debt_and_deleveraging

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42david@the-futurist.com 42

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We have entered a new era. . . .

a "post-Industrial” age. But, because we do not yet know how today's multiple rapid changes will ultimately work out, the chattering classes have agreed to call it "The New Normal" for the time being. 

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So, Welcome to THE NEW NORMAL, where

• Society will be older (with fewer young adults):

• most individuals and institutions will have to live/operate within more limited means;

• technology will pervade every aspect of daily life and change how we all work and play;

• and where accelerating innovation and change will produce growing numbers of unintended consequences.

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