1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
BLAME IT ON THE WEB !
THE BROADBAND INTERNET has accelerated
two long-standing workplace trends:
• global economic integration (Y2K)
• information automation (“infomation”)
22
23
24
25
26
27
28
29
30
31
32
33
34
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
35
36
37
38
39
40
41
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
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.
59
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.
60
61
62
63
64
65
Top Related