The placement lists shrink, the names turn obscure, monthly allowance vanishes in a week, something is not right. In a nutshell, money is missing. This is the average young person’s view on the crisis.
The papers, the economists and the experts have analyzed the crisis to the point of exhaustion, and every contradictory point of view has been debated, supported and torn down. They discuss hundreds of theories that economics has spewed out, they talk about the definition and squabble about the semantics of it – is it a recession or is it a downturn? Speculations are unending about when the economy will rise again.
For the young world, definitions are irrelevant. We are not scholars or intellectuals, we are the masses. For us, the name of this situation is secondary to the solution. As far as we are concerned, what we see exemplifies the crisis perfectly – no work, no money. That is the extent of this issue. And our high school civics textbooks have more than sufficiently highlighted the many vices of unemployment.
Then we hear and read about the many hundreds of theories being pushed around. Yes, we understand how stimulating the economy might help, how increasing money supply is now the only option left. We do agree that these things will have a positive impact in the Long Run. But we don’t see these processed in action, the invisible hand is truly invisible and for the youth, inadequate.
What we want, need and strive for is practical solutions. In the practical world, we see our friends, our brothers and sisters, our families not being able to find jobs, unemployed, underemployed, settling for any job they can find. To ensure the same fate does not hit us, we are constantly reinventing ourselves, trying to do anything and everything to set ourselves apart from the mediocre – be it through extra classes, pursuing a higher degree, doing double degrees, more professional courses, dance lessons, internships. A perfect example would be the ricocheting level of competition in higher education. Everybody would rather pursue a Master’s degree than jump into work directly. And this means more demand for higher education and far more competition. And thus the need for flexibility.
We feel all organizations should be doing the same – being flexible, reinventing, offering more for less and being more efficient. Which is easy for the smaller companies, but for the rigid MNCs, it is a long and arduous process.
The way we see it, this crisis has its upsides. It makes the world and us re-evaluate the bubble we were living in, get realistic and become better equipped to handle the cut-throat competition that has emerged from the downturn. Natural Selection has spoken and no harm can come from that. Although socialism and the welfare state exist to buffer the impacts of this natural selection, they can do so only for a while. The world is going to catch up with us.