Tuesday, 5 September 2017

Economic Uncertainty and the Trend of Decline

The New Strategist Press has an interesting list of the Top 10 Emerging Trends of the 2000s

UncertaintyBut even more interesting is their summary of the 10 trends:

 "Most are stories of decline–which is a trend of significance in itself."

In fact, 7 of their 10 trends are about decline. These are:

  • The Income Decline
  • The Wealth Decline
  • The Home Ownership Decline
  • The Marriage Decline
  • The Birth Decline
  • The Life Expectancy Decline
  • The Economic Mobility Decline

Just two of trends showed increases. These are the number of people covered by health insurance and the acceptance of gay marriage. 

The rapidly rising acceptance of gay marriage, BTW, is quite stunning. In 2004 just 31% of Americans reported they accepted gay marriage. In 2016 it was 59% of Americans. Rarely do social trends change this quickly. 

The final trend on the list, city growth and rural decline, is somewhat neutral overall. But the decline of rural America certainly is a negative trend for rural areas.

The Trend of Decline is, from our perspective, driven in large part by the rise of economic uncertainty. This is the term we use to describe the angst felt by many Americans due to a lack of personal economic stability.

We've been tracking the trend towards economic uncertainly for years, but our favorite description came from a blog post called The Lean Years. It describes one person's concerns about her lack of economic stability and how it was impacting her life decisions in a negative way.

We consider the rise of economic uncertainty to be one of the most powerful trends we track. It's also one of the least understood, especially in terms of its social and economic impacts.

We cover this trend in more detail in our Economic Uncertainty section.



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