Opportunity is literally what it is called... [I]f you don't make something out of it, it's not going to produce anything by itself. ...[I]t's very important for citizens to demand, organize, talk about it... How we want to change the society having seen that... we don't all need to be in the office to become efficient workers, can we change the way we organize work? ...Can we work more often from home, if not completely? Can we, in that way, reduce greenhouse gas because fewer people will not be commuting..? All of these things need to be discussed, but... unless we make demands, voice our concerns, it's not going to happen. ...In ...different industries ...the biggest losers will be people who provide face-to-face services. ...[T]his will be a huge problem for many developing countries especially, because a lot... rely heavily on tourism... [T]hat's going to be dead for a few years. Also in developing countries we have this huge informal sector, many of which involve face-to-face services. So when these people do not have customers, how are they going to cope? So in terms of the industry mix... it will depend on the country, but broadly speaking this will negatively affect poor or developing countries with a big service sector, especially informal sector, and countries like the US and the UK which rely on a lot of services, and countries which have a greater strength in manufacturing and material production are going to be relatively better off. So that's my prediction.
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "Opportunity is literally what it is called... [I]f you don't make something out of it, it's not going to produce anything by itself. ...[I]t's very important for citizens to demand, organize, talk about it... How we want to change the society having seen that... we don't all need to be in the office to become efficient workers, can we change the way we organize work? ...Can we work more often from home, if not completely? Can we, in that way, reduce greenhouse gas because fewer people will not be commuting..? All of these things need to be discussed, but... unless we make demands, voice our concerns, it's not going to happen. ...In ...different industries ...the biggest losers will be people who provide face-to-face services. ...[T]his will be a huge problem for many developing countries especially, because a lot... rely heavily on tourism... [T]hat's going to be dead for a few years. Also in developing countries we have this huge informal sector, many of which involve face-to-face services. So when these people do not have customers, how are they going to cope? So in terms of the industry mix... it will depend on the country, but broadly speaking this will negatively affect poor or developing countries with a big service sector, especially informal sector, and countries like the US and the UK which rely on a lot of services, and countries which have a greater strength in manufacturing and material production are going to be relatively better off. So that's my prediction." in the context of "" to mean that wisdom is timeless.
Tags
About Ha-Joon Chang