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Goodbye Capitalism, Hello Talentism

As a generation, we’re experiencing a radical change of era, a change that encompasses everything, from relationships and interactions between people to the ways of making money. The rise of telecommunications and computing technology for example has made the access to information free and plentiful. All these changes means that the traditional method of learning based on memorizing is becoming obsolete, and that mass communication is allowing us to have a bunch of more relationships with a bunch of more people we barely know, giving us a way to expand our network easily beyond limits

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

Yes, in today’s societies, and especially in the Western world, changes happen daily, and we have almost no time to assimilate them. But being able to adapt quickly to these changes is the key to success in all spheres of life. With respect to work / business / companies, we are witnessing an era of mass unemployment (especially in southern Europe), in which many people see their life plans based on the traditional “go to school, study hard, get a secure job, work for 40 years, and finally retire” is coming down at an astounding speed.

Big companies are even forced to make adjustments to their business models, in which there are concepts becoming increasingly more important like automated work, outsourcing, departments of Research, Development and Innovation. We are in a transition towards an economic model that does not favor physical labor, whether it’s in factories or offices, and replaces human monotonous and repetitive tasks by less costly alternatives. These kinds of labor intensive jobs are migrating to emerging powers such as China and India, where the cost of labor is much lower than in the USA or Europe. In this new framework, the ideas you have is what’s really important, not how many boxes you can assemble in an hour.

So why are people with ideas so well paid? It´s simple: Because ideas are the only thing that cannot be produced in series. There is no machine in the world capable of producing ideas. The singularity is yet to come, but for now, human beings are in a higher hierarchy than machines precisely because of our creative minds and our abilities to have astonishing ideas, to imagine, to create and to find solutions to the problems we face in our daily lives.

The financial collapse changed the rules of the game in 2008, and the fact that we are still suffering from its repercussions has shown us that the economy, driven by the all-powerful giant companies listed on stock indices dedicated to making a few people millionaires on Wall Street, doesn’t work anymore. That economic model is coming to an end. The 9 to 5 schedule in front of a computer screen in an office with an extra 500 people dressed exactly like you don’t cut it anymore.

In advanced economies, the real value creation is based on creativity and design. It’s based on the ability to see beyond what lies ahead of us, on the belief that individuals are now capable of reaching the highest levels of success by bringing to the next big thing to the table. Today we’re moving to a work ethic where a company should not only serve the interests of its shareholders, but also those of society and the world we live in. In today’s world the consumers have the power, because we all have the capability of gaining access to information and data about the top companies – what they do, how they do it, and that means that they have to do things right if they want to keep us coming back to their store to line up our dollars.

We are witnessing, as Daniel H. Pink mentioned in his book “Free agent nation” a new economy, the freelance economy, where professionals meet to carry out projects, and each one is paid according to the value that it actually brings. This is why there is a growing emphasis on entrepreneurship, being an entrepreneur, the individual who has an idea and develops it into reality through innovation and dedication. And with the swift access to the Internet we have and the new technologies that are emerging at an ever-affordable rate, it’s becoming so much easier to access, to gain and to develop new products and services.

We´re no longer machines, we don´t act like that anymore. Gen-Y hate authority as much as they hate staying in on a Saturday night. We no longer accept stuck up bosses telling us what to do and how to do it. The future of the economy is relying now more than ever on this generation and it won’t be based on the 9 to 5 work schedule, but on talent – and that talent is already flooding the streets as we speak.