The Market Speaks

Want job security?

Have a look at the professions you should consider.

There are, broadly speaking, three industries with impressive future/current demand. The first is easy: anything that requires math and science. Want a free lunch for our grandchildren? Find a way to increase M&S aptitude and interest in your kids by 1%.

The second is a darker reality. Remember TGS and Baumol’s cost disease: the share of health care and education in our economy will be constantly rising over time.

Here are the skills:

1. People good at math and science

2. Healthcare and pharmacology (50% math and science, 50% Baumol’s cost disease/TGS).

3. Teaching teachers (100% TGS).

#3 makes me think of the (perhaps proverbial) merchants in the gold rushes of history. We’re funneling talent into the teaching profession, but the smart talent doesn’t go into the mine, the smart talent sells miners $50 pints of recycled beer and $10,000 pickaxes.

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