I remember when people started talking about Globalization like it was the end of the world. Sure, no one likes to see American jobs go overseas, but because of outsourcing and globalization we are able to get more for less.
There seems to be a trend that comes and goes, one minute you have to specialize and then you need to generalize, however, I think the new trend is that you should specialize in multiple things instead of being generally good at a few things or really good at one.
Right now I work about 50 hours a week, but I work them whenever I want and my income comes from various forms of work that are only marginally related. What I have found is that I am only one person and if I want to continue to be competitive I will need to find other people who are better than me at really specialized stuff so I can give my clients the best services and products for the best price.
So if you have kids, you should encourage them to be good at multiple things, do what they love, be good at it, figure out how to make money at it and then they will always be successful.
At least that’s my two cents.