Expertise, Comparative Advantage, and Mortality, from Kim Zussman
An expert has great comparative advantage in their area of expertise.
They say it takes 10,000 hours of study and mindful practice to become an expert — not to mention the natural talent, and the practice time it takes to maintain expertise.
Since a work lifespan is ~50 years — along with time needed for play, sleep, food, and social interaction — it would be unusual to become expert at many things. Which suggests that the economic fuel of comparative advantage is not likely to go away.
How is expertise possible in ever-changing markets?
Jeff Rollert writes:
I recommend the book Mindfulness, which contains the research work of Harvard psychologist Ellen Langer on observing and problem solving.
I practice some of her ideas when I walk to work…