When the world is going through tough times, some people and businesses actually make more money. It may sound strange, but it’s true.
Most workers are getting only small pay raises these days. But many lawyers are expected to get salary increases of 10-20% this year. Why? Because when there are wars, trade disputes, sanctions, or big business deals, companies need lots of legal advice. Lawyers help write contracts, solve disputes, and make sure everyone follows complicated rules. The more problems there are, the more work lawyers get.
Another group doing very well is weapons manufacturers. The global arms industry is expected to grow enormously over the next decade. When countries worry about conflicts or security threats, they often spend more money on weapons and military equipment. While wars hurt many people and economies, they can also increase profits for companies that make military hardware.
Other businesses can benefit from uncertainty too. Oil producers may gain if conflicts disrupt important shipping routes. Cybersecurity companies get more customers when governments and businesses fear cyberattacks. Consultants, investment managers, and intelligence firms are also hired to help organizations deal with risks and uncertainty.
What’s unusual is that these industries often say they are helping solve problems—and sometimes they are. But they can also earn record profits while the rest of the world struggles. It’s a reminder that when times are difficult, not everyone is affected in the same way. Some people lose money, while others find new opportunities to make it.
Disclaimer
Views expressed above are the author’s own.
