Modern Economy Overview
While all of us understand to one degree or another what the economy is, have you stopped to think about how the economy of today is materially different from the economy of 2010, 2000, 1995 and pre-1990? Believe it or not the Modern Economy bears very little resemblance to the earlier economies in the way companies scale, deliver products, employ individuals, product life cycles and global competition. Sure you might be asking yourself, why am I reading this obvious statement? I know this! I read the Economist and other smart people publications! Tell me something new!
Well first, stop using so many exclamation points when you think. It's probably not good for you. Just saying. Anyways, the Modern Economy is now made up of fast paced sub-economic structures with names like: On-Demand Economy, Sharing Economy, Access Economy and Gig Economy to name a few. These new economic models are providing new opportunities, risks, threats and challenges to everyone in the economic ecosystem.
But what does that really mean? It means large companies will have to re-examine their long-term viability, smaller owner/operator companies will have to find their footing as the owner/operator model dies, and more workers will have to secure the overall income from a variety of sources and with few traditional employee benefits. This means everyone, no matter who they are, needs to consider their future plans and trajectory over the long-term.
Before we can deal with the long-term we need to define what each of these new economic models are and how they work. You can select your economy of choice from the menu.