I have written before the current age has been called the Anthropogenic Era, the human era, because mankind is reshaping the geology and environment of the world. The economic system is adjusting to these changes taking place. The economic system set up 100 years ago does not behave or react the same way because the environment is different in which it operates.
The internet is revolutionizing the economy.
The challenge I think is that the entire economic system is going through a stage of evolution, much like the medieval economy went through with the development of towns and the mercantile middle class, and just as the mercantile middle class and town was changed by industrialization. The change is painful. There are people who will resist the change (luddites). But change is inevitable because of the tools we develop. Gary Vaynerchuk, social media entrepreneur, observes “life shrinks and expands on the proportion of your willingness to take risks and try new things.” (1)
At the end of the day I am an optimist. This statement would be shocking to many people I am sure, but it is true. I have faith in humanity, and the economic systems and innovations we construct.
Vaynerchuk’s most recent book, “#ASKGARYVEE” is a guidebook on how to think differently in this new age. In it he provides his view on the need for focus, self-awareness, and leadership. Combining these ingredients with “hustle”— Vaynerchuk’s patented term for raw effort, energy, and synergy—and you have a chance at being successful in this new age.
Most people are not built for success in this new world. Most people are not trained in entrepreneurship. Most people do not have the self-awareness and self-auditing to learn and grow. People MUST educate themselves if they hope to succeed and thrive in this new era.
In a recent book titled “Failure To Adjust: How Americans Got Left Behind in the Global Economy”, Edward Alden of the Council of Foreign Relations outlines many of the structural problems which have contributed to the struggles the middle class has faced in recent years. Changing economic conditions have led to lowered American wages and an increasing sense of inequality. (2)
Among some of the solutions Alden mentions as being key to reinvigorating the American economy are retraining programs, support for displaced workers, improving education, upgrading infrastructure and encouraging innovation. Successful implementation of such changes requires commitment from all involved.
To reboot your outlook and your thinking on your role in the economy, Vaynerchuk’s book is a great starting place. But even as you are reading it, it is clear that the hardest work is what goes on in your own soul searching, self-examination, and critical analyses. To find your place in the new economy, and to succeed, you have to embrace the change. You can only embrace change and make good decisions when you have self-awareness.
We all need to embrace the change. It has already started. We see its disruption in our lives every day. Being aware, especially self-aware, gives us the power to choose a better course.
Retirement Income. Tax Efficient Planning.
Life Insurance. Disability Insurance
Socially Responsible Investing
To learn more
Phone: 610 293 8309
First Financial Group 744 W Lancaster Av Suite 235 Wayne, PA 19087
This material contains the current opinions of the author but not necessarily those of Guardian or its subsidiaries and such opinions are subject to change without notice.
Links to other sites are provided for your convenience in locating related information and services. Guardian, its subsidiaries, agents, and employees expressly disclaim any responsibility for and do not maintain, control, recommend, or endorse third-party sites, organizations, products, or services, and make no representation as to the completeness, suitability, or quality thereof.
Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 7101 WISCONSIN AVENUE SUITE 1200 BETHESDA, MD 20814. 301-907-9030. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Devon Financial Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation
Investing in foreign securities may involve heightened risk including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws. Such risks are enhanced in emerging markets.
2019-80052 Exp 05/21
This book, “#ASKGARYVEE,” has not been endorsed by Guardian, its subsidiaries, agents, or employees. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness, or reliability of the information contained herein. In addition, the content does not necessarily represent the opinions of Guardian, its subsidiaries, agents, or employees.
- #AskGaryVee: One Entrepreneurs Take on Leadership, Social Media, and Self-Awareness, by Gary Vaynerchuk
- Failure to Adjust: How Americans Got Left Behind in the Global Economy, by Edward Alden