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Feb 05, 2009


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Phil: I'm a grey-haired veteran. I started in public accounting back when PCs had two floppy disks and 10MB hard drives were a novelty reserved for partners. We had a misallocation of resources for the past decade in labor markets. Too many smart people were diverted into financial engineering. The same thing happened in the 1980s in the legal profession. Salaries boomed among lawyers in the mid-80s. You know what? Since then, they've been relatively flat, lagging inflation slightly, except for the very top white-shoe firms. I suspect that the same will happen in finance. Smart people will now head into medicine, engineering, logistics, maybe even into my field, IT.


I think your observations are right on. Picking up my own employment pieces right now, I'm also appreciating the fact that this revaluing/restructuring of our lives will ultimately serve to streamline our behavior.

As I wrote this week on my own blog, http://jtpedersen.net/2009/03/10/mastery/, we've moved away from mastering things (long term development, growth, practice) and have lived a decade of endless, unsustainable climactic events. Time to get back to our core strengths, as a nation, and individually.


You can't outsource burglar alarms can you? Not a bad business to be in these days...


Phil - which celebrities' burglar alarms? Do tell...

Phil - You've nailed it! How about taxi fares too - these guys think they can charge you $50 for a 20 minute ride to the airport these days,


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