From a New York Times article on how finance is declining as the choice industry for recent college grads, and public service is on the rise:
The government’s need to step in with financial bailouts and recovery programs to steady the economy is seen as the immediate proof, they say, but not the only one. The environment, energy and health care also pose huge, complex challenges. “Young people today understand that government has a powerful role to play in solving these problems,” said Sandra Archibald, dean of the Evans School of Public Affairs at the University of Washington, where applications this year are up 26 percent.
Government school officials also point to an Obama effect: his election as an endorsement of government activism.
But I wonder if this trend has broader implications for Generation Y'ers and their propensity to start businesses.
We know that most successful startups are started by people who previously worked as employees in the industries of their startups. A robust private sector today is the training ground and incubator for tomorrow's entrepreneurial businesses.
If this article is correct, we're seeing a shift from the private sector to the public sector. Does that mean the current generation of college grads will lack the knowhow and desire of previous generations to start their own businesses?
I'm not going to pretend I know what will happen, but I think college grads should realize this: if you want to serve your country, you don't need to do it by serving the government.
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