March 12, 2016
Amidst the hype of digitizing lives, we haven’t been attentive to the sacrifices that society has to make in order to step into the digital era. There are very important drawbacks of the digital revolution to consider and act upon before we completely move away from the conventional way of doing things. Certain groups of the population face more damage in a digital world than advantages and it’s important to bring along the balance. One of the most interesting recent books on the digital economy was published by HBR. Some important drawbacks worth thinking about were pointed out in the publication.
The author, Don Tapscott, presents an interesting thought, Some signs point to a new economy in which wealth is even further concentrated, basic rights like privacy are vanishing, and a spiral of violence and repression undermine basic security and freedoms. Pervasive evidence exists that indicates the basic social fabric is beginning to disintegrate. Old laws, structures, norms, and approaches are proving to be completely inadequate for life in the new economy. While they are crumbling or being smashed, it is not completely clear what should replace them. Everywhere people are beginning to ask, Will this smaller world our children inherit be a better one?
Imbalanced labour market
According to the International Labour Organization, in the 20 years in which we have been going through a digital revolution, the young workforce has faced massive unemployment in all regions. The situation is quite dramatic for North Africa, where youth was unemployed at a rate of more than