One of my basic assumptions with regards to planning for the future (whether it is financial planning, or career planning, or other) is that we are in a period of disruptive change (which I’ve been calling the “Information Revolution” - as a way of indicating it is analogous to the Industrial Revolution”).
Periods of gradual change are relatively easy to deal with. Individuals can extrapolate and plan based on the past. Words of wisdom from parents and elders more or less make sense.
Disruptive change adds discontinuities to trend lines. Suddenly what worked in the past does not work anymore. Common knowledge is incorrect. What was good advice can suddenly become very bad advice.
Continue Reading 3 comments Tuesday, Aug. 29, 2006
by Dan
