Keys to Building Economic Resilience in Montgomery County Post-Pandemic
As we await post-pandemic life and speculate about our economic future, the idea of economic resilience—how quickly and easily we as individuals and society can adapt to and recover from a devastating economic blow—is on everyone’s minds. So let’s examine the idea of economic resilience: what the term “resilience” means for a local economy, what characteristics and conditions make local economies resilient in the face of economic challenges and how Montgomery County can position itself to be more resilient.
Local Economies, Adaptive Resilience, and Relationships
Economic resilience is adaptive resilience. This is different from the type of resilience we expect from our physical infrastructure, which “bounces back” to normal functioning … Continue reading
Several weeks into the COVID-19 pandemic, it has already become cliché to say that we are living in unprecedented times, but it is still too early to understand exactly how severe the economic damage will be, and how it will effect Montgomery County and its residents. While hundreds of thousands are already suffering the direct health effects of the COVID-19, the indirect economic fallout from the near closure of the economy is also becoming apparent. From the weeks ending March 21 through April 11, over 22 million people filed for Federal unemployment insurance in the U.S., including over 38,600 people in Montgomery County. This volume has far surpassed all previous records. The $350 billion Paycheck Protection Program created by … Continue reading
Fears of robots replacing humans are overblown. A diverse and adaptable economy is key to keeping Montgomery County competitive and equitable.
There has been no shortage of foreboding warnings in the media about the economic and social dangers posed by robots and artificial intelligence technologies. With titles like “The Robots are Coming,” “The Rise of the Robots” and “The Robocalypse,” this coverage has sparked collective anxiety over the future of work and whether human labor will eventually be displaced in an automated economy.
However, technology is not destiny. With thoughtful, proactive planning, the harmful consequences of 21st century technology can be avoided and opportunities for increasing fulfillment at work, income equity and quality of life can be seized.
This … Continue reading