Opportunity in economic crisis

The fall of Dick Smith in Australia this week led to various articles reflecting concerns about job losses, again.

People are concerned several thousand workers currently employed at Dick Smith will be out of work. But if there’s enough public demand for brick-and-mortar domestic electronics retailers in Australia (hint: there probably isn’t) then either Dick Smith’s rivals will step up their presence to absorb the increased need, or a new brand will start to take advantage of the opportunity in the market. In either case, they’ll need staff to run these stores.

If on the other hand they were servicing a dead industry their efforts can be put to far better use in some other more productive area of our economy.

Rather than being concerned about several thousand people out of work we should ask ourselves: what can we create to benefit Australia using the skills, energy and output of several thousand newly available workers available for immediate use?

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