Bestselling Books on Intangible Assets
Discussion weblog on intellectual capital. Discuss best practices, ideas, news, models, methods, theories, tools, questions and answers.
Former CEO of ADT Ray Carey notes in his new book Democratic Capitalism that despite the evidence of the practical effectiveness of democratic capitalism, companies implementing such a strategy have proved the exception to the rule. The dominant business culture has instead trended towards what Carey calls 'ultra-capitalism,' the modern system of finance-driven capitalism that Carey believes places too great of an emphasis on speculation, individual greed and excess. This has led to a disconnect between ownership and control, a widening gap between the super-rich and the common working person, a shifting of the tax burden from capital to labor, and a deterioration of regulatory safeguards to protect workers and their companies.
Over time, terrorism is less a threat to the U.S. than the possibility that creative and talented people will stop wanting to live within its borders.
I don't know about you, but I'm not too sure the US is actually in danger of losing it's extremely strong IC 'competitive edge'. I believe the US actually have a near-monopoly position in many crucial knowledge-intensive industries such as software, computers, bio industry, pharmaceuticals, defense and what have you.
And although as a percentage of the total of working people the number of creative jobs may not be the highest in the world, in absolute terms it still is!
And besides, some competition in these important industries of the future is healthy and in the interest of the whole world, including the US. Surely Florida wouldn't want the US to be open only to it's own ideas?
Today's WSJ reports that according to a European Commission survey, more than 70% of EU-born recipients of U.S.-doctorates between 1991 and 2000 planned to stay in the US. Alltogether some 100.000 European-born researchers currently work in the USA.
I'd think turning these things around should have top priority of European Governments.
In an interesting HBR article (June 2004), Lev concludes that both investors and managers are underestimating the value of R&D and other intangibles investments.