Motto of 2022: Work Globally & Live Locally
The growing waves of inflation around the world is likely to show its most severe effects on people who are not paid in USD or EUR for their a month of work. If you are watching the things happening in Turkey and many other developing countries, people do not want to work harder and paid less in USD equivalent.
The way people work for living has been slightly but firmly changing with the beginning of pandemic. While the online world was seen as the place where people socialize, play games and shop, it is becoming an inseparable part of their work, as well. Thanks to the globalization via social media, people question their life conditions more than before. Even though the perfect lives on the social media are not realistic, people motivate themselves work for that lives.
Brain Drain may not satisfy
I have a couple of coder friends who moved to England to work for a company in an office life. Though it may look quite fashionable to be there and be a part of an office life, the amount of the salary he gets hardly meets the expenditures and a partly social life for them.
What's tricky at that point is the calculation made by people who are paid in a different fiat currency. It may look juicy for a person to get the equal amount of that salary in the local country but the conditions are exactly opposite in the other place.
Going "Local" on the other hand
This is what I've observed as the most satisfactory way of living for many talented people. As long as there is no military coup, totalitarian regime that directly affects your live or any threats for the lives of people, the life becomes worth living when the wage is getting more valuable and your expenses shrink in USD due to the devaluation of a fiat currency.
For instance, getting $3,500 a month may not bring an exciting life for those who are living in countries where the fiat currency is USD but can you imagine the same amount paid in less developed ones. It may turn into establishing your own kingdom. I'm pretty sure the year 2022 and the rest of the 202X years will be the time when people go for this life style.
Crypto; in the same vein.
Whether deep bear market or overhyped crypto market may not change the result of the experiment in which fiat and crypto for living conditions are compared. Most probably those who rely on crypto will go through more stressful but wealthier life compared to the one that is getting monthly salary in fiat currency.
Under most circumstances, the fiat currencies are in the verge of having serious issues with increasing inflation wave. When it hits the economy, it soaks up the whole value in the economy like a black hole. For each individual, saving their purchasing power becomes crucial. Otherwise, it is likely to lose everything until it is realized.
No border will be able to limit the talented people
In today's world, borders are old-school for those who are global citizens. People see the positive effects of Freelance works, crypto gains and online education videos in their lives. I believe there will not going to be a turning point from there for Gen X & Y.
Many people realize the collapse of 9-5 work style that turns people into slaves under the hegemony of talentless bosses. "Be Your Own Company" sounds irresistible for whoever reads these lines. What people will do is likely to working remote for global companies where they can break the borders.
"Freelance" or "Remote Work" concepts would not be that attractive if we were living in the year 200X. However, the way we live, so do other branches of our lives, are effected with the global issues such as pandemic, inflation and several concerns.
For someone living in a developing country, getting paid in USD may change the whole life quality in a positive way. While the purchasing power of people in developing countries is under the risk of global inflation, the very first strategy that is likely to be deployed by millions of people will be working globally. However, compared to the past customs, the new life style of people is going to be living in the same country while serving for a global company. IMHO, whoever adopts that life style in their countries will be the first people who could increase their wealth against less competitors. However, the end will not be surprising...
The paradigm shifts have always been harsh against human beings 😪
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