In a crisis of economic and political leadership, who should we turn to for a revelation of the future, for the rebirth of civilization? The millennials are the natural suspects, for they shall inherit the earth.
The largest generation in recorded history is set to move into its prime spending years. The Millennials are poised to redefine the structure of the economy.
Capitalism has come under siege. The concept of the free market has generally been ignored; it’s gospel of globalization and the predominance of growth and GDP as a standard appraisal of development has been disregarded.
Prior to the economic meltdown in 2008, the boomers were creatures of leverage; blindly using credit to reach beyond their means. Such ignorance led to a dramatic worsening in inequality – not just of income and wealth, but also opportunity.
Nevertheless, rather than use the recession of 2008-2009 as a wake-up call to catalyze change, “the elders” have essentially rolled over and went back to doing more of the same and thus dug us deeper into a crisis of capitalism and political leadership.
The Millennials have witnessed intense unemployment, inequality, instability in the workplace , business politics and the fellow boomers’ jobs being downsized after decades of loyal service. These perpetual market and economic conditions have been a constant sight for millennials and as a result have ignited the concept of the millennial entrepreneur.
In Lesotho particularly, we have seen an influx of independent businesses being erected, regardless how small-scale they may be. Some government and private corporations have put forward their resources to aid promising entrepreneurs. We have taken the first step to economic freedom. A favorable environment for business success is steadily coming to fruition. It is up to us – The Millennials – to grab this opportunity and lead the new wave of the millennial entrepreneur.
Start-ups are essential to job creation in Africa; the entrepreneurial mindset of The Millennials could go a long way in supporting economic recovery, and consequently human development.
New problems call for new incentives. We need leaders; do The Millennials fit the bill?
This post is shared with permission by The Millennials Lesotho