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Digital Economy and Unemployment

The disruption technology has brought to almost every field it is introduced to, is leading  to the rapid rise in unemployment leaving the option for entrepreneurship. With many geared toward becoming entrepreneurs thinking it’s the only way to financial freedom, it’d be prudent to understand the main causes of the challenge. Getting abreast with  current information/knowledge and developing requisite skills needed for the new industry is necessary for survival!

Wondering how to start your entrepreneurial journey?https://understanddigitaleconomy.blogspot.com/2020/08/becoming-entreprenuer.html


It is very important to know technology is disrupting industries,jobs and everything it touches! It’d interest one to also know we live in a changed World today. Same rules  hardly win in this Economy! 


Businesses are the economy. When businesses do well, the economy does well.

In the world today, businesses are automated which is pretty helpful with disadvantages. Automation saves time, money and resources. During the early days there were not many things to consume and a single paycheck did the job for most middle class families, with the rising economy more services deemed useful and now we need at least two pay checks for a family to survive.

Although automation leads to innovation,expansion and creates  more jobs, it  kills the economy at the same time. This is because machines don’t move the economy like humans. Machines don’t consume!

Whenever you get paid, you have the power to stimulate the economy.

How?

You consume products and services:

  • You buy food, clothing, a phone, a car, gasoline, a house, candy, etc.

  • You use the dry cleaner, get a haircut, go get a coffee, a massage, etc.

  • You pay taxes.

  • You pay for school… you get the idea.

The economy is a living ecosystem. A healthy economy is when everything is moving. People are not scared of consuming and everyone is actively participating — exchanging products and services.

Follow Prince on this journey to unlock the code for surviving this economy.

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