A recession..in thinking

Gail MarksJarvis writes in the Chicago Tribune that "After living through one of the most brutal recessions in U.S. history, many late teens and young adults could be scarred for life, adopting behaviors that could skew everything from their own careers to politics, corporate profits and the stock market. Academics are beginning to study the implications of the recent recession on the current generation of Americans that age, suggesting it may have much the same effect as how the Great Depression changed so many of the youth of the 1930s into conservative spenders and investors. Experts said people between 18 and 25 are the most likely to be affected for life as they internalize the struggles they've seen in family and friends and contemplate the power they will have over their own destiny..."

In a class on Global Business I showed the students a video on Cirque Du Soleil and asked them to comment on the Globalization of Talent. All students pointed to the threat to their jobs and outsourcing- no surprise there. But not one student observed that Cirque Du Soleil did not "outsource" its talent- it recruited its talent from around the world. Prior to CDS, kids in Mongolia might not have had many options. But CDS has recognized that these kids are amazing contortionists, and has hired and used them in its shows. This company has created many jobs for people around the world- not moved jobs. Similarly, Over a span of more than a decade, Google has created many jobs in the U.S. and elsewhere. When the students don't want to think, and are fearful of competition, then it is cause for concern.