Continuous re-education for everyone
Economist
Lester Thurow:
"To avoid in future paying Bangladesh wages to everyone we need to
re-educate and retrain half the population." We choose what we are
interested in and hence what we know. Likewise the same process has
chosen what we are ignorant about. You are the only source of your own
understanding. You choose your knowing and you choose your ignorance. "Skills, skills, skills: acquire them or risk being cut out of the economy".
Learning all you need to know
The message is clear, and those who understand what's happening know
they have to be forearmed with knowledge. Each of us has to take
responsibility for our own learning and our own future.
I've worked for a long time to develop my own knowledge. I believe that if I'm diligent and if I engage with the world and with my work in a sensible and disciplined way that I will learn the things I need to know, and that knowledge will be available to me when I need it.
World wages are heading to a broad but low
level.
Labour is cheap. In my country, NZ, we can expect stable or falling wages. In the lifetime of most of us,
oil and water will become expensive. Environmental problems may mean that some
risks like flood and storm or
epidemic infections that are beyond insurance in many areas of the world.
