Young Engineers and the Economy (Part 2)

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The economy is a system. This is a follow-up to the first article I wrote about the economy.

You can find that first article here: Young Engineers and the Economy (Part 1)

Based on the video by Ray Dalio here: How the Economic Machine Works.

This expanded map shows where the economy starts to fail and growth slows or reverses. Thinking about the economy as this machine is the start. Learning how to trace the steps of that machine to predictable outcomes is the goal. That goal could be anticipating:

• Funding impacts to a project with longer CAPEX timelines (3-5 years)
• Material procurement price changes in a robust construction markets
• Inflation to contractor rates following supply/demand laws

These skills and thinking processes push you beyond just performing engineering work. Think of how much value you can bring to your clients if you could think accurately and speak intelligently on these nuances of the industry.

Action Item: Test your knowledge by trying to make predictions about how the economy will affect your client’s work.