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Alan S. Blinder, a former vice chairman of the Federal Reserve and economic adviser to President Bill Clinton, describes outsourcing as a "Third Industrial Revolution". Indeed it is. Like prior revolutions, this too spells controversy and has its share of Luddites. Just as the first and second industrial revolutions eventually increased our standard of living more than was initially expected when the revolution began, similarly, outsourcing will also improve overall well being and provide many benefits.
During primitive times, the primitive man was the most advanced. Little did he realize, or perhaps even fathom that the generations to come would be anything advanced beyond his wildest dreams. Several centuries later, in the so called "advanced age" or the "modern times", a little introspection will reveal that we too nourish the same tendency as our primitive ancestor.
Every generation thinks that they are the most advanced. This belief stems from the fact that we learn from a variety of sources, and we implement what has been learned. This in turn imparts a new form of knowledge for us to learn, repeating the cycle all over again in an infinite loop. So, I guess it would be acceptable to say, that, "when a generation advances, it has implemented the previous learning, creating new lessons to be learned by future generations", hence paving the path to advance the generations to come.
As civilization become the way of life, technology began to emerge. This would be the initial period when the human mind implemented learning to created a solid, useful entity (that can be touched and used, like the Invention of wheel ). This saw the advent of skilled hands. Later, skilled minds jump started technology. Now we had machines that could perform the same skill on a large scale, but with less human input and effort, early examples include the printing press and textile manufacturing in 18th century.
During the first industrial revolution, there was migration of the workforce from farms to factories. This did not leave the farmlands barren or farmers out of jobs. In fact, fewer farm hands were now needed. A preliminary breakthrough came from John Fowler in the 19th century, with steam propelled engines for ploughing and digging drainage channels. This also allowed farming in swampy lands which would have been impossible otherwise, and the rest is history. During the second industrial revolution, yet again there was a shift in work force and nature of work. Now there were more white collar jobs, i.e. service sector, and the workforce was now divided into three large groups. A comparatively smaller number of people continued to be in the manufacturing sector, and a hand full of enterprising minds (who were earlier engaged in the manufacturing sector) went out of their way to aquire skills that placed them in the service sector. The few who refused to acquire new skills to join the growing service sector continued to blame the industrial revolution for their lack of initiative.
Let us not forget it took every generation a great deal of grit and determination to adapt to the changes of industrial revolution. It was a daunting and grueling time for them to brave the odds and survive the change. Today we enjoy the fruits of our previous generations and its time for us to sow seeds of productivity for the generations to come.
When Mr.Blinder describes Outsourcing as the Third Industrial Revolution", it makes me wonder, why I failed to see the connection earlier. Outsourcing involves migration of work , subject to if this work can be transmitted via the internet. Since internet plays such a key role in delegating, distributing and receiving a said project, it is imperative that more customized online applications see the light of the day. This would mean acquiring new skills in order to be able to develop custom applications. Custom applications would mean every company would want an application specific to their work processes. This would mean educational institutions offering new course plans for jobs that are yet to be generated. Not stopping here, every application developed in the future must not only have inter-operatablity, but also have the ability to synchronize with any other application , in any other gadget chosen by the user.
Imagine when Google was just another search engine. Later it was Gmail. This was followed by Google docs, allowing you to write and store word documents and spreadsheets. Not just another online application, these applications allowed us to synchronize Google docs as downloadable and editable .doc and .xls files. I am sure that the industrial revolution has created more job opportunities during its time than jobs that have been taken away. Outsourcing is going to create more jobs and see the emergence of self-employed entrepreneurs.
When computers replaced conventional typewriters, instead of complaining about it, our stenographers got a bit smarter. When laptops became more affordable, our CEOs and small business owners got a bit smarter too. I believe outsourcing will allow us to tap our inherent latent potential to realize how much smarter one can be. Perhaps your talent lies in spotting the talent in others. The journey has just begun, and we all are learning to cope with this every step of the way. Some might need a helping hand, while some have to stand up on their own. The road is new and the path is rough, some might stagger, while some might pass through with just bruises. A failing hand might grab you for support, lending yours might make you feel more grounded.We shall march ahead as we motivate those ahead of us to move forward and we shall see the path emerge as we walk along this new trail, leaving our footsteps to tell the story of endurance, persistance and perseverance.
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For many, investing in real estate is a daunting task because of the sums of cash involved, concern over resident issues, and much more. The key is an old saying, the elephant was eaten one bit at at time. And perhaps the second key, is which bite to take first. That is what this article is about, what bite you should take first.
Some would be investors spend hour after hour planning and studying to invest without ever actually acquiring any property. Others spend tens of thousands of dollars hoping to acquire property without ever actually making the first purchase. The issue is planning and studying won't turn your dreams and ideas into the first investment. The real trick is to actually start acquiring some real estate equity.
The first investment step can be accomplished a several ways. You can take advantage of some of the consumer friendly guaranteed loan program supported by your state government or by the U.S. federal government. You can invest with a group of individuals as an outside investor. Another alternative is to join a team in a supporting role and perhaps earn a small amount of equity through a sweat investment. Finally, you can develop your own skills and then assemble of really strong partners to lead an investment.
Failing to take the step outlined above is really failing to create a real estate investment. While this may seem daunting, if you become part of an investment club, invest in getting to really know the people there, and then determine to act any one of the above actions is well within your capacity to achieve. The key is involving yourself in a support network where you can express your goal and gain the help you need to change dreams form mere ideas into ownership and participation in a equity producing real estate investment.
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