COVID-19 has had a dramatic impact on China’s economy. Jenna Ross at Visual Capitalist describes how the effects on their economy could foreshadow what the rest of the world can expect. While China turns the corner on the health side of the story, the economic side is telling its story. This Article via the World Economic Forum uses visualization to tell this economic story. Countries in the early stages of the outbreak should take notice.
This Analysis by the Conference Board underscores how the trajectory of COVID-19 and the economic response over the next few months are uncertain. They developed three scenarios for the course of the US economy for the remainder of 2020. Focusing on future scenarios was already a critical imperative given the pace of change; the current pandemic just underscores the point. The analysis authors from the Conference Board are: Bart van Ark, Executive Vice President & Chief Economist, and Erik Lundh, Senior Economist. Here is an executive summary from the report:
This week I attended the Annual Directions Conference held by research firm IDC. Because of the coronavirus, the conference was held online. Here are some of the key messages – a deeper analysis is provided by Michael J. Miller, chief information officer at Ziff Brothers Investments and can be found Here.
The illiterate of the 21st century will not be those that can’t read or write, but those who cannot learn, unlearn, and relearn – Alvin Tofler, Rethinking the Future.
As we all become life long learners, unlearning could be our biggest challenge. Our mental models prevent us from seeing the need for change. We are creatures of the only world we have individually known. Even if you are one hundred years old, the mental models established after humanities second Tipping Point dominate your thinking. They form our intuitions and belief systems.
When I first launched my Blog in 2010, it was titled Blurring the Boundaries. It was growing ever clearer that the lines between physical and digital, industries, business and IT, you name it, the lines were blurring. It was evident that our growing digital world would drive significant structural change. These new era structures would fundamentally alter our belief in long standing institutions like management, policy, process, procedure, legal frameworks, accounting principles, organization structure, business and operating models, governance, regulations, institutions, and the core characteristics of new era organizations. In essence, The Collapse of Traditional Structures will lead to a Third Tipping Point in Human History.
One of the most profound changes will be the dissolving of industry boundaries and the emergence of ecosystems. Our industry construct – born during revolutions that set the standard of living in the western world – will give way to a finite set of horizontal ecosystems. This visual depicts a perspective on an ultimate finite set of nine ecosystems.
In a brilliant journey through the economic history of the western world, author Robert J. Gordon looks at The Rise and Fall of American Growth. This recent book focuses on a revolutionary century that impacted the American standard of living more than any period before or after. Our standard of living is typically viewed as the ratio of total production of goods and services (real GDP) per member of the population. But this measure fails to truly capture enhancements to our well-being. Human well-being is influenced by advances in the areas of food, clothing, shelter, energy, transport, education, health, work, information, entertainment, and communications. The special century (1870 – 1970) that followed the Civil War was made possible by a unique clustering of what the author calls the great inventions. Clearly – as the visual I developed depicts – the great inventions of the second industrial revolution significantly improved our well-being: