How much is a trillion dollars? Click here for an excellent visual. Now the world today has approximately 7 trillion people. Assuming that the economies of the world are information and service orientated and that factors of production are free to move across borders, how safe is your job from competition?
You will be surprised to learn that you probably will not be able to do the job your father did. Mine was a pattern maker. Every day, I have to learn more and more just to keep up. That means to me that students have to learn more and more to catch up with the generation ahead of them. What kind of competition for scare resources will emerge?
I think you'll see huge groups banding together to collaborate on goods production, procurement, and distribution. The global supply chain will extend around the world so many times to exploit every mutually beneficial trade that goods will approach perfect competition prices. How will you compete? Will you use Facebook to make these connections? What will you give up to compete? These tough questions continue to plague me. Humans can only do so much and learn so fast.