Both Oars In Economic Opportunity

Sep 18, 2009

Sometimes it is important to establish what you’re not saying before you say what you are saying, lest bad feelings set in before understanding. This is especially true in delicate matters and tough times—both of which apply here. After religion and politics, there is nothing more sensitive to discuss than the economy, especially when so many are suffering.

I do not mean to imply by what follows that unemployment is good. In fact, I bristle at economists who suggest that the economy is healthier with less than full employment. I understand the theory, but the concept of feeling more at ease when a few people are unemployed seems mean-spirited. I am also not suggesting making lemonade out of lemons. Being out of work is more serious than a momentary disappointment that can be easily turned into gladness with a good attitude.

I am not suggesting by what follows that households with two working parents are deficient or driven any more by greed than households with only one working parent. I recognize that this circumstance is not always a choice. Certainly, I do not mean to imply that any individual should stay home unwillingly. Likewise, I am not suggesting that working to one’s full potential and dedicating oneself to one’s work are in themselves wrong. Moderation must be tempered by the positive benefits gained by society and the individual when the human drive kicks into overdrive.

But, we cannot ignore that things have changed. Having spent the past quarter century warning us of the inflationary dangers of dipping below the level of "full employment," economists are now suggesting double-digit unemployment may be with us for a while. While Mr. Greenspan, largely retired from his lifeguard position, has little to worry about personally given his age, we may need to adjust our lifestyles, dreams and job searching strategies accordingly. This may be especially difficult for us middle-agers who have spent our adult life in one type of economic circumstance, namely prosperity.

What can we do in this new economy?

For one, we can recalculate the benefit of having two working parents versus having one at home. There is no doubt that society has benefited by the liberation of women and the ongoing march to equal pay for equal work. I am proud of my three professional sisters and supportive of everyone, regardless of gender, being able to pursue his or her dream. But now that we are losing the bigger houses we went to work two-by-two to purchase, maybe it is time for those who can survive without the second income to consider having one member of the household take up the underappreciated job of full-time homemaker. Certainly, this would open job opportunities for new graduates and members of households without even one job.

It may also be time to stop burning the midnight oil. I remember as a child how pale, gaunt and obviously overworked our family doctor looked who did everything from deliver us to sew up our cuts. We used to joke that when he was not working, which I would predict was about four hours a day, he was riding a tractor somewhere on one of the many farms he accumulated over the years. It provided a lot of comfort to know that he was always available. But did he need to work that hard?

Today, it might be better for everyone’s health if a doctor in the same position would take on an associate or a nurse practitioner. This goes for lawyers and other professionals who often rack-up superhuman hours to bolster careers. Voluntary, collegial job sharing may be a way to keep more people employed. Certainly, companies can do this on an institutional basis through hour and salary reductions as well. We do not want to dampen the work ethic envied by the world; however, it may be time to value the worker who earned us that reputation a bit more than the reputation itself.

There is a benefit to having people transitionally unemployed. New ventures require ready supplies of eager workers since start-ups cannot afford the higher pay scales of established companies. President Obama is likely to keep looking for ways to invest public money into emerging sectors to create jobs in this manner. In the meantime, individuals may have to consider packing a bag and heading into the world to find work where development is already naturally occurring. To date, we have been the destination for people who need to work in order to send money home. It may be our turn to try the remittance game.

The current economy presents opportunities—just not the type opportunities we like to talk about. However, we cannot control the economy any more than we can control the weather. It seems that we also can’t predict it any better. Our only real choice is how we react. When it rains, we can sit inside dejected that we cannot go out and play, or we can take the opportunity to clean our room in preparation for better weather. Now is the time to make adjustments that will make us stronger and better prepared for when the sun breaks through. And, you can bet your bottom dollar it will.

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