Richard Florida on America's 'Great Reset'

Tuesday, April 27, 2010

Richard Florida (Wikipedia)

Even though many economists are proclaiming the "Great Recession" ending or over, the nearly 10 percent of Americans who are unemployed probably find it difficult to imagine exactly what a prosperous, post-recession America will look like. Richard Florida, author of "The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity," says that's because the crash has fundamentally altered how we feel about spending and saving. He says we're all in the process of resetting the way we work and live.

We started the conversation by asking the question: Have you remade your life because of this recession?

Leslie writes on Facebook:

"You can't help but to have made changes in the way we do everything. Hopefully, our children will carry the memories of this trying period of our history with them and learn from it."

And Connie Rich Thames wrote, also on Facebook:

"Yes, we pushed the "reset" button by not needing to find The Best (most expensive or most exclusive) items to buy. 'On sale and good-enough' is my new shopping attitude. Also, less tolerant of just throwing things away that I/we no longer want to keep. I put a lot more effort into finding creative ways to get rid of the "extra" and we don't rush to  buy replacements! We make more meals at home and we have leftovers more often too! That is a huge switch in our house.  It feels virtuous and healthy to make these adjustments. I don't feel like such a big consumer hog with a piggyback debt monkey. Less stressed and thankful for continued employment."




Richard Florida

Produced by:

Jen Poyant

Comments [7]

Coach Store Online

Thanks so much for participating in this and for spreading the words!

Mar. 30 2012 03:01 AM
Cory Wilson from St Louis, MO

The last year and a half has been a huge reset for me. I quit my old, demanding and unhealthy job in April 2009 knowing that it would be difficult to find another job. Since, I worked three jobs until I finally landed a new career for about half of what I was making before. I sold my motorcycle and expensive car and now own just a scooter. I purchased a small house with a friend and have completely reevaluated my financial and personal priorities. Even though, now, I am in the most credit card debt of my life from the time I spent unemployed and trying to pay off the loans on my vehicles in order to sell them, I feel that my enitire life has been changed moving forward. This recession is exactly what this country needed.

Apr. 27 2010 10:11 AM
Roy van Dalm from Arnhem, The Netherlands

We in the Netherlands have not been hit as hard as the US by the recession, but there is a downside to that as well: there is no sense of urgency to change. But one morning we'll wake up to find we've been wasting this crisis. Our country is plagued by populist politicians who'd rather build a wall around our borders than open up to the world. And the answer is not in isolation, but in re-connect. To values that matter, to ways of life that have meaning, to work that fosters the creativity of everyone. Now we run the risk of sitting out the storm, thinking we can go back to business as usual. But we're completely ignoring the fact that this is a Reset, not just a recession.

Apr. 27 2010 09:48 AM
Elaine from Washington, DC

I just got laid off from a not-for-profit that serves the newspaper industry. Five years ago I saw this day coming, so for that and many other reasons I went back to school at age 49 to get a second graduate degree, this one in urban planning. (First one is an antique MBA.) I've taken one course at a time every semester for the last five years while still working full-time, and voila! Just when I needed more time to complete an internship and a double-credit capstone course, this layoff provides it. And, because I saw this day coming, I sold my house this spring. It sold right away, for full price. The timing of all of this is perfect, and I've never wavered in my conviction that pursuing this was the right thing to do.

I will take a pay cut to move into my new career compared to what I was earning at the job from which I just got laid off, but that's OK. I'm very comfortable scaling down, and I really look forward to working in an area where I've always had an interest but never made the time to pursue it. It's gonna be great.

Apr. 26 2010 06:24 PM
karan from edison, nj

I use to own a 4 bedroom home and pay $9k in property taxes anually, now I live with 3 children in a 1 room apartment for $900 a month

Apr. 26 2010 05:08 PM
Meg Coppolino from Hamilton, Ontario

When life threw them a recession, they made recess:
Although we're from Canada. The article about kitestring creative speaks for itself:

Apr. 26 2010 04:16 PM
Lisa Hendrickson from NYC

The Great Recession has changed the trajectory of my life. We were greatly affected by the recession. My husband and I own what was previously a very successful business. The business was damaged by the recession and although we haven't had to declare bankruptcy, we are closing the business because we don't see how we'll be able to make a decent living, save for retirement, pay employees and salaries and then be able to sell the business. Because of all these reasons going to close our business. We have decided to move to another state and open up another business that we believe will be much better for us. We're changing our location, the type of business that we run and how we live our lives.

Apr. 26 2010 02:09 PM

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