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I like to think of economic recessions as forest fires which burn out the weaker trees and shrubbery allowing the stronger plants to thrive with extra fertilizer from what did not survive. After the dot.bomb of the 90’s companies like Google and Amazon were able to consolidate great talent under smart management and actually make doing business on the Internet profitable for a change. And the consumers benefited as well with useful services which were easier to use.

With so many job losses recently, one would think there are no new jobs to be found. However approximately 2 million skilled jobs including engineers, nurses and even some banking positions are actually in demand because their unemployment numbers are far lower than the national average of 8.1%. But it’s not all high-skilled labor either. Low-discount stores like Family Dollar and Wal-Mart are hiring as well. The competition for these jobs is steep which allows companies/industries to hire the most talented workers.

So while the economy is suffering, the Free Market is at work reallocating resources to more efficient vehicles, which will open the door for new companies and industries and help the recovery and strengthen the forest. This process will take time but is far more effective than artificially creating and maintaining unneeded jobs through govt intervention.

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About the author

Amit Singh

I'm left handed but right brained.