Did You Know?

Dave, I've got my own thoughts on your post and its a subject that needs to be dissected thoroughly. However while I collect some of my thoughts and current financial short comings, here is a video that Jade brought to my attention a few days ago. I think its really an eye opener and something that really hits your subconscious mind in the face! After having watched this video and then contemplating the questions you voiced about the current situation and place of architecture in our economic and political system, it really makes me wonder about our desires as Architects or Designers and what role "if any" does our profession have in the future? Anyway enjoy!

Economic Turmoil

So.... Now that we have all had at least a little taste of the current economic downturn, what are your thoughts on it? Could the architectural industry have planned better for it? How will these events change how you run your future firms? What are you doing now to cope with the situation in the short term?

Currently, I am working in residential construction repairing roofs. It doesn't really pay all the bills, but it is making my savings stretch further. In my free time, I find myself longing for studio to return, and I read.

The architectural industry as a whole is not setup to cope with a recession like this since about 96% or more of all firms are smaller, i.e. less than 50 employees. Yes, the number of licensed architects is held to a minimum do to the rigorous process of licensure, but that limitation did not work this time around. I feel the architectural profession has to create a way to link all the individual firms together in a way that makes them a stronger political force. Think about it. Almost 100% of every innovation that enters architecture comes from R&D from another field and is applied to a building. A small firm simply does not have the capitol and/or resources to develop them. Even CADD was not originally created for architectural use! Until someone decides to join firms in some sort of political union, architects will continue to be the innovators of leftovers hung out to dry at every economic downturn.

I know my experiences now will effect the way I run my firm in the future, but I don't yet know how. I talked to an architect just before the downturn about his retirement plan. He said he wanted to have 3 million dollars saved up for retirement. That way, if the economy tanked, he'd still have about 1 million dollars left to live off of (~$50,000 in interest per year). Does this apply to business? It doesn't seem to me that having 3 times the amount of assests on hand than you need to run a business is a very feasible business plan, but it would be nice. Who knows...