Managing Scarcity Through Skillset Diversification
When I was younger, there wasn't much emphasis made on the essence of skill acquisition. One of the many important skills acquired in this modern day is money management, which isn't even considered a social science.
There are so many reasons why money management was a necessity, one of them is the scarcity of resources. Many would say economics covered this aspect, but it was just a social science that wasn't too emphatic on reality.
Back in the days, I remembered people synonymizing a skill such as shoe-making to poverty, people who were artists and painted portraits had to depend on the measure of the value of a client to get paid. The major gig then was going to school and getting a degree. However, this isn't the focal point. In reality, any skill that solves a relevant problem equals value and with the advent of sophistication, people have come to understand this.
The dichotomy in the superiority or inferiority of skill was prevalent in the past and hence people never opened up themselves to be versatile,
Why is This?
the essence or importance of versatility isn't stressed enough, hence people end up making sole financial priorities rather than opening themselves up for different possibilities.
In the world we live in, value is not static.
The advent of technology makes it possible for devaluation to happen to an industry while simultaneously making another industry share some of that relevance. For example, wood was one of the most multifaceted goods in Nigeria, but the advent of sophistication diverted some of this relevance to glass so, here, sophistication devalued the wood industry, while adding that extra relevance to glass.
I could also remember when the textile industry was a thing in the early 90s. My mother was in the industry for a while, making money for herself, but over time, the relevance dwindled and she was out of a job.
The sociocultural relativity to the essence of money-making is hardly emphasized in so many developing countries. Because of the emphasis on being definitive or recognized with a certain skill, different people are thrown out of jobs because of their inability to cope with the condition of being in a certain industry.
In Nigeria for example, a disability takes a person off-board, meaning their chances of being employed decrease. One of the reasons for versatility is not just to increase streams of income, but for a person to be differently skilled to suit their biological conditioning.
There are different skill sets in the when a person tailors themselves to understand and improve on the skillset that suits their member, people do not have to compete especially in challenging industries where they're out of the race before the competition begins.
In the world currently, versatility is the key to staying afloat in a world of uncertainty.
This is because a person can activate their different skillsets, especially in an economy with limited opportunities. There are some countries where the system provides equal opportunities for all skillset, while some aren't.
While digital skills are considered to be a thing nowadays, there's one even better aspect. Digital skills are a fragment of some of the skills we can find in real-time, for example, gaming has become a skill, the reason is that it's currently monetizable as a result of P2E.
Back then I know many people who owned the game house and monetized the entertainment of others, nowadays, with the monetization of the gaming through blockchain applications, nowadays both the owner of the game center and the people who played games can bring that skill online to reward their passion.
Some of the things the internet has helped facilitated are the compartmentalization, now this is very dynamic.
I have a friend who is a digital advert manager, he works online then he's a brand ambassador when he's not working, or even a planner when you need him to be. Because of the internet, he can create a conglomerate of clientele without even needing a physical space to build.
This means that the internet isn't just creating new opportunities for new skillsets, it's creating accessibilities, especially for fringe skills that are often ignored in an economy. Creating relevance and awareness of the need for different skill sets in the world is essential, this is where we begin.
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TOTALLY agree & concur - it is ONLY someone with a growth mindset and a receptive, learning framework who ultimately survives in this insanely-fast-changing world.
Exactly, because we have the world moving at a crazy pace, innovations are dying while new ones are being born. It's important to move with that pace, if not we might be cut out.
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I agree at some point, @Josediccus and btw, thank you for UF :) You have a good one and goodluck brothuh!
I agree. A lot of the jobs from before are being phased out and disabilities might not mean much when we start taking everything online. They just need to be able to do the work required online or even in the VR when it does come out.
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Well, I think the internet has come a long way in being an agent of change. At the moment, everything is being brought the internet and seeing how jobs are being replaced and phased out due to Sophistication, I personally feel everyone needs to do better
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I just finished reading this titled Managing Scarcity through Skillset Diversification post by @josediccus, and I enjoyed it very much.
But while the post was about skill set diversification, so that you always poscessed an in-demand skill to make money. The post also spoke to me about value. What makes a skill, an item, a precious stone, or anything else have value.
I enjoyed this post.
I want to understand the ever changing world around me, and this article addresses the basic dynamic of value. It lies in the eye and needs of the beholder. People like to think things have inherent value, but in reality for many things value is made by people.
You give the example of wood art and then glass art, as things once valuable because people valued them. When people moved onto glass, it became valuable, and wood decreased in value.
Bitcoin is a conudrum for may people trying to wrap their minds around it and why it is valuable. people give it value.
people like Warren Buffet argue that Bitcoin isn't a stock in a company which makes goods people want to consume, so it doesn't have any value.
I think Warren Buffet is billionaire because he is very good at figuring out where value is moving to, but he uses his metrics of value to correctly guess. But I think he misses out on the theme that people give value to things including stocks. People give value to McDonalds hamburgers because they perceive them to be good and worth the extra cost. So McDonalds has value. If people stopped liking McDonalds they would stop eating there and the stock price would drop as earnigs dropped. McDonalds would still be making something as Warren likes to say, but those things don't have inherent value, they have value because people give them value.So even if McDonals continues to make something people don't like it's stock would lose value.
Bitcoin has value because it makes something people value. All of Bitcoin's traits and talents are what people value, so they give it value. Warren buffet is certainly a smart person, so I hope one day he understands value is not always something you can measure with his metrics. Its something people poscess and imbue things with.
@shortsegments
:)
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Thanks, I see you made it into a post and good to see you express appreciation for the post. In reality, I think that innovations will birth innovations, the world is changing and sometimes we're still struggling with knowing what is likely to retain value or what can be considered valuable.
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Education through skill is now the most important thing if we take a deep dive into this. Unlike traditional schooling, it has taken a lot of role in improving the world economy.
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I think Nigeria has the worst traditional schooling system ever. I think we don't set our priorities to developing skills and making our students to be more dependent on their abilities to create opportunities for themselves.
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I agree with you. It's that worse. Student have to go the extra mile of making things work out for themselves. And this in my opinion is really bad.
Well, in some case we see them embrace things like yahoo in the process. it's saddening.
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Very much saddening. Even if I don't totally blame those who do this, whatever reason they've got is still not justifiable.
But how we go do am? 🤷🤷 Things like this are needed for the economy to run properly.
We are in world where thing are changing daily, change is the most constant thing and that's we must no limit ourselves to a certain thing and information is the power that rule in our world.
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You're right about change, the speed at which life is changing is totally unimaginable and this is why we should be equipped to constantly change with the world.
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That is the point, we should be versatile
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