How freelancing will change the economy by 2040

How freelancing will change the economy by 2040

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According to a recent report by the Roosevelt Institute and the Kaufman Foundation, by 2040, the economy will change beyond recognition.

Traditional forms of work will soon disappear. Future changes can be observed today: in the US alone, the share of freelancers is 34 percent of the population — 53 million people. And in the next 25 years, this figure will only increase due to an increase in interest in short-term projects, an increase in the number of small firms and an increase in the popularity of crowdsourcing platforms.

However, due to the departure from the traditional model of work, the government ultimately risks losing a significant part of the taxes received from the population’s wages, which will lead to difficulties in the tax system if this policy is not socially adapted. A ripple effect may occur that will affect emerging markets.

The report, which presents the views of 30 economists, technologists, politicians and entrepreneurs, focuses on such key issues as the future of freelancing, the future of technology, the future of entrepreneurship and the future of inequality.Below are five changes that will soon affect the US economy:

1. The work will be in the nature of numerous but short-term projects.

It used to be that having a permanent job meant security and success. However, against the background of recent changes, the idea that good work is the basis of a “good economy” is considered to be wrong - people are beginning to understand that regular work is not a guarantee of employment.

By 2040, the labor market will consist of people working simultaneously in several places, part-time workers and small firms. Instead of a daily monotonous work consisting of the same responsibilities, the business will provide many short-term projects, the diversity of which can be controlled independently throughout their lives.

In other words, people will carry out short-term projects lasting from several days to several years, which will create the basis for the growth of the number of entrepreneurs who work exclusively for themselves. By 2040, it is small business that will become the main source of most jobs.

2Creating additional platforms to reduce economic risks

In addition, as traditional companies that provide their employees with health insurance and pensions, will disappear, new platforms and institutions will be developed to assist employees and their families. According to the report, these platforms will be able to meet the following needs:

The emergence of new marketing tools and sites for the sale of goods and services.

Development of such platforms, where people will be able to learn about new specialists, projects and tasks, draw up personal schedules of work, make payments and solve a variety of issues relating to everyday life.

The emergence of educational programs for professionals to integrate into the wider market.

3. More talent agencies will be employed to search for ordinary specialists.

If in the past, agencies for working with talents were engaged in finding such people of such creative directions as artists and athletes, in the future such organizations and recruiting companies will play an important role in the lives of ordinary professionals seeking their career development.

four.Small business growth will increase salaries

The growth of self-employment will inevitably lead to an increase in wages (this is a great advantage - you will no longer have to worry about a small salary). In addition, the retirement of the aging population and the birth rate below the reproduction threshold will lead to a decrease in the labor supply, which can not but affect the growth of wages.

While immigration will partly satisfy the demands of new labor demand, this is unlikely to be able to impede wage growth.

5. Everyone will be responsible for their own success.

Of course, you do not have to worry about the fact that the employer does not pay you extra, but it also means that your career success will depend only on you.

Specialists will have to constantly think about their future projects, as well as develop professional skills and obtain the necessary education necessary for the successful implementation of these tasks.

You no longer need to move up the career ladder and there will be no ready-made instructions.Instead, specialists should become wiser than their predecessors, because their living conditions will be much more difficult.

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  • How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040

    How freelancing will change the economy by 2040