Why Talentism — Not Capitalism — Is The Economy Of The Future

by Gulf Elite Magazine

As a generation, we're experiencing a radical change of era, a change that encompasses everything, from relationships and interactions between people to ways to make money.

The rise of telecommunications and computing technology, for example, has made access to information free and plentiful. All of these changes mean that traditional methods of learning based on memorizing are becoming obsolete.

Mass communication is allowing us to have more relationships with more people we barely know, which gives us a way to easily expand our networks.

To take full advantage of the new world, we must know precisely how this new system works. This sentiment can be summarized in one line: Goodbye, Capitalism; welcome, Talentism!

Yes, in today's world, and especially in the Western world, changes happen daily, and we have almost no time to assimilate. But, being able to adapt quickly is the key to success in all spheres of life.

With respect to business, we are witnessing an era of mass unemployment, which has led many people to frame their life plans on traditional trajectories that are no longer so stable. "Go to school, study hard, get a secure job, work for 40 years and retire" is no longer a plan on which to count.

Big companies are even forced to make adjustments to their business models. Automated work, outsourcing, departments of research, development and innovation are becoming all the more common in many workplaces.

We are in a transition toward an economic model that does not favor physical labor, whether it’s in factories or offices.

The current workforce aims to replace monotonous tasks done by humans with less costly alternatives. These kinds of labor-intensive jobs are migrating to emerging powers, like China and India, where the cost of labor is much lower than in the USA or Europe.

In the new framework, your ideas are what’s important, not how many boxes you can assemble in an hour. So, why are people with ideas so well paid? Ideas are the only thing that cannot be produced in series. There is no machine in the world capable of producing ideas.

For now, human beings are in a hierarchy more strict than machines due to our creative minds and ability to ideate, to imagine, to create and to find solutions to our problems.

In advanced economies, the real value in creation is based on creativity and design. It’s based on the ability to see beyond what lies ahead, on the belief that individuals are now capable of reaching the highest levels of success by bringing the next big thing to the table.

Today, we’re moving toward a work ethic where a company should not only serve the interests of its shareholders, but also those in society and the world in which we live. The consumers have the power because we all have the capability to gain access to information and data.

This is why there is a growing emphasis on entrepreneurship and being an individual who has an idea and develops it into reality through innovation and dedication.

And, with access to the Internet, we have new technologies emerging at ever-affordable rates. It’s becoming so much easier to access, to gain and to develop new products and services.

We're no longer machines, and we no longer act like we are. We no longer accept stuck-up bosses telling us what to do and how to do it. The future of the economy relies on our generation now more than ever, and it won’t be based on the nine-to-five work schedule, but rather, on talent.