Those of us who went to good schools, had positions in brandname organizations, and shopped only in elite establishments have a circumscribed mindset. We only think in a sophisticated manner. A minority among us have been fortunate enough to be able to remain in prestigious well-paying jobs or operating businesses which serve upscale clients. They don't have to change.
The rest of us might consider downsizing our world view. After all, only a fool (like Walter White on "Breaking Bad") might miss that we are in an economic depression. Lawyers, as well as journalists and marketers, banished from the magic kingdom of stimulating intellectual work would do well to imitate Wal-Mart's deflationary trendline. Its stock, as BLOOMBERG BUSINESS WEEK reports, is going gangbusters.
On the other hand, those out there like J.C. Penney which haven't learned to love the deflationary trendline are in freefall. Let's call ourselves "The Victims of the Ivy League." If we are not already in free fall we will be unless we get it that we have to take a detour from everything we used to value, ranging from high level analysis to charging what we assume we are worth.
I began traveling this path May 2011. I began recommending to those I coach similar downscale moves. We are all working. We are paying our bills. We are sleeping at night. And, who knows, when the global economy improves we may remain in a Wal-Mart state of mind.