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jerryking : human_capital   31

Opinion | The Meritocracy Is Ripping America Apart
Sept. 12, 2019 | - The New York Times | By David Brooks.

savage exclusion tears the social fabric.

There are at least two kinds of meritocracy in America right now. Exclusive meritocracy exists at the super-elite universities and at the industries that draw the bulk of their employees from them — Wall Street, Big Law, medicine and tech. And then there is the more open meritocracy that exists almost everywhere else.

In the exclusive meritocracy, prestige is defined by how many people you can reject....The more the exclusivity, the thicker will be the coating of P.C. progressivism to show that we’re all good people.

People in this caste work phenomenally hard to build their wealth......People in this caste are super-skilled and productive.....These highly educated professionals attract vast earnings while everybody else gets left behind......Parents in the exclusive meritocracy raise their kids to be fit fighters within it....affluent parents invest on their kids’ human capital, over and above what middle-class parents can afford to invest......the Kansas Leadership Center. The center teaches people how to create social change and hopes to saturate the state with better leaders. But the center doesn’t focus on traditional “leaders.” Its mantra is: “Leadership is an activity, not a position. Anyone can lead, anytime, anywhere.” The atmosphere is one of radical inclusion.....People in both the exclusive and open meritocracies focus intensely on increasing skills. But it’s jarring to move from one culture to the other because the values are so different. The exclusive meritocracy is spinning out of control. If the country doesn’t radically expand its institutions and open access to its bounty, the U.S. will continue to rip apart.
Big_Law  caste_systems  Colleges_&_Universities  David_Brooks  elitism  exclusivity  hard_work  human_capital  inequality  law_firms  leadership  medicine  meritocracy  op-ed  parenting  political_correctness  social_classes  social_exclusion  social_fabric  social_impact  social_inclusion  society  technology  values  Wall_Street  winner-take-all 
9 weeks ago by jerryking
Get Ready for Technological Upheaval by Expecting the Unimagined
SEPT. 2, 2017 | The New York Times | By SENDHIL MULLAINATHAN.

New technologies are rattling the economy on all fronts. While the predictions are specific and dire, bigger changes are surely coming. Clearly, we need to adjust for the turbulence ahead.

But we may be preparing in the wrong way.

Rather than planning for the specific changes we imagine, it is better to prepare for the unimagined — for change itself.

Preparing for the unknown is not as hard as it may seem, though it implies fundamental shifts in our policies on education, employment and social insurance.

* Education. Were we to plan for specific changes, we would start revamping curriculums to include skills we thought would be rewarded in the future. E.g., computer programming might become even more of a staple in high schools than it already is. Maybe that will prove to be wise and we will have a more productive work force. But perhaps technology evolves quickly enough that in a few decades we talk to, rather than program, computers. In that case, millions of people would have invested in a skill as outdated as precise penmanship. Instead, rather than changing what we teach, we could change WHEN we teach...... our current practice of learning early [and hopefully] benefitting for a lifetime — makes sense only in a world where the useful skills stay constant. Human capital, like technology, needs refreshing, we have to restructure our institutions so people acquire education later in life. Not merely need programs for niche populations or circumstances, expensive and short executive-education programs or brief excursions like TED talks. Instead we need the kind of in-depth education and training people receive routinely at age 13.
* Social Insurance. Economic upheaval at the macro level means turmoil and instability at the personal level. A lifetime of work will be a lifetime of change, moving between firms, jobs, careers and cities. Each move has financial and personal costs: It might involve going without a paycheck, looking for new housing, finding a new school district or adjusting to a new vocation. We cannot expect to create a vibrant and flexible overall economy unless we make these shifts as painless as possible. We need a fresh round of policy innovation focused on creating a safety net that gives workers the peace of mind — and the money — to move deftly when circumstances change.....current policies do nothing to protect the most vulnerable from the costs of all this destruction. We resist letting factories close because we worry about what will become of the people who work there. But if we had a social insurance system that allowed workers to move fluidly between jobs, we could comfortably allow firms to follow their natural life and death cycle.

.....other ways of preparing for upheaval? We should broaden the current conversation — centered on drones, the end of work or the prospect of super-intelligent algorithms governing the world — to include innovative proposals for handling the unexpected......One problem is that social policy may seem boring compared with the wonderfully evocative story arcs telling us where current technologies might be heading......The safest prediction is that reality will outstrip our imaginations. So let us craft our policies not just for what we expect but for what will surely surprise us.
tumult  unimaginable  expectations  turbulence  Joseph_Schumpeter  innovation_policies  human_capital  education  safety_nets  job_search  creative_destruction  lifelong  life_long_learning  surprises  economists  improbables  personal_economy  preparation  unexpected  readiness 
september 2017 by jerryking
Keeping America's Edge
Winter 2010 | National Affairs | Jim Manzi.

.....One of the most painful things about markets is that they often make fools of our fathers: Sharp operators with an eye for trends often outperform those who carefully learn a trade and continue a tradition. ...First, To begin with, we must unwind some recent errors that fail to take account of these circumstances. Most obviously, government ownership of industrial assets is almost a guarantee that the painful decisions required for international competitiveness will not be made. When it comes to the auto industry, for instance, we need to take the loss and move on. As soon as possible, the government should announce a structured program to sell off the equity it holds in GM. ....Second, the financial crisis has demonstrated obvious systemic problems of poor regulation and under-regulation of some aspects of the financial sector that must be addressed — though for at least a decade prior to the crisis, over-regulation, lawsuits, and aggressive government prosecution seriously damaged the competitiveness of other parts of America's financial system ........Regulation to avoid systemic risk must therefore proceed from a clear understanding of its causes. In the recent crisis, the reason the government has been forced to prop up financial institutions isn't that they are too big to fail, but rather that they are too interconnected to fail......we should therefore adopt a modernized version of a New Deal-era ­innovation: focus on creating walls that contain busts, rather than on applying brakes that hold back the entire system.....Third, over the coming decades, we should seek to deregulate public schools. .....We should pursue the creation of a real marketplace among ever more deregulated publicly financed schools — a market in which funding follows students, and far broader discretion is permitted to those who actually teach and manage in our schools. There are real-world examples of such systems that work well today — both Sweden and the Netherlands, for instance, have implemented this kind of plan at the national level......Fourth, we should reconceptualize immigration as recruiting. Assimilating immigrants is a demonstrated core capability of America's political economy — and it is one we should take advantage of. ....think of immigration as an opportunity to improve our stock of human capital. Once we have re-established control of our southern border, and as we preserve our commitment to political asylum, we should also set up recruiting offices looking for the best possible talent everywhere: from Mexico City to Beijing to Helsinki to Calcutta. Australia and Canada have demonstrated the practicality of skills-based immigration policies for many years. We should improve upon their example by using testing and other methods to apply a basic tenet of all human capital-intensive organizations managing for the long term: Always pick talent over skill. It would be great for America as a whole to have, say, 500,000 smart, motivated people move here each year with the intention of becoming citizens.
social_cohesion  innovation  human_capital  Jim_Manzi  immigration  recruiting  interconnections  too_big_to_fail  economic_downturn  innovation_policies  outperformance  capitalization  human_potential  financial_system  regulation  under-regulation  too_interconnected_to_fail  systemic_risks  talent  skills 
august 2017 by jerryking
Good Schools Aren’t the Secret to Israel’s High-Tech Boom - WSJ
March 20, 2017

Israel’s shadow education system has three components. The first is our heritage of debate—it’s in the Jewish DNA. For generations Jews have studied the Talmud, our legal codex, in a way vastly different from what goes on in a standard classroom. Instead of listening to a lecture, the meaning of complex texts is debated by students in hevruta—pairs—with a teacher offering occasional guidance.

Unlike quiet Western libraries, the Jewish beit midrash—house of study—is a buzzing beehive of learning. Since the Talmud is one of the most complex legal codes ever gathered, the idea of a verdict is almost irrelevant to those studying. Students engage in debate for the sake of debate. They analyze issues from all directions, finding different solutions. Multiple answers to a single question are common. Like the Talmud itself—which isn’t the written law but a gathering of protocols—the learning process, not the result, is valued.

The second component of our shadow education system is the peer-teaches-peer model of Jewish youth organizations, membership-based groups that we call “movements.” Teenagers work closely with younger children; they lead groups on excursions and hikes, develop informal curricula, and are responsible for those in their care. As an 11th-grade student, I took fifth-graders on an overnight hike in the mountains. Being given responsibilities at a young age helped shape me into who I am today.

The third component is the army.
Israel  ksfs  education  high_schools  schools  Jewish  Talmud  protocols  Judaism  books  religion  coming-of-age  technology  science_&_technology  venture_capital  innovation  human_capital  capitalization  struggles  convictions  tough-mindedness  rigour  discomforts  cultural_values  arduous 
march 2017 by jerryking
America is still great — but it needs to stay strong
May 26, 2016 | The Washington Post | By Fareed Zakaria, Opinion writer.

It is increasingly clear that the U.S. has in recent years reinforced its position as the world’s leading economic, technological, military and political power. The country dominates virtually all leading industries — from social networks to mobile telephony to nano- and biotechnology — like never before......Joshua Cooper Ramo's new book, “The Seventh Sense,” argues that in an age of networks, the winner often takes all. He points out that there are nine global tech platforms (Google Chrome, Microsoft Office, Facebook, etc.) that are used by more than 1 billion people. All dominate their respective markets — and all have their epicenters in America: The dollar is more widely used for international financial transactions today than it was 20 years ago.....A better, broader measure of economic power than GDP, is “inclusive wealth.” This is the sum of a nation’s “manufactured capital (roads, buildings, machines and equipment), human capital (skills, education, health) and natural capital (sub-soil resources, ecosystems, the atmosphere).” The United States’ inclusive wealth totaled almost $144 trillion in 2010 — 4½ times China’s $32 trillion.....China is far behind the United States in its ability to add value to goods and create new products.....In the military and political realm, the dominance is even more lopsided. ....And perhaps most important, the United States has a web of allies around the world and is actually developing new important ones, such as India and Vietnam. Meanwhile, China has one military ally, North Korea....The complexity of today’s international system is that, despite this American dominance, other countries have, in fact, gained ground.......“Washington still has no true rival, and will not for a very long time, but it faces a growing number of constraints.” ....The reality is that America remains the world’s leading power, but it can achieve its objectives only by defining its interests broadly, working with others and creating a network of cooperation. That, alas, does not fit on a campaign cap.
Fareed_Zakaria  Donald_Trump  networks  epicenters  winner-take-all  superpowers  indispensable  Joshua_Cooper_Ramo  platforms  books  international_system  manufactured_capital  human_capital  natural_capital 
may 2016 by jerryking
Recharging the Canadian right - The Globe and Mail
PRESTON MANNING
Special to The Globe and Mail
Published Monday, Jan. 18, 2016

As Henry Kissinger once observed, politicians in office use up their intellectual, human and organizational capital rather than adding to it. Time out of office, wisely employed, can be used to restock the cupboard....

.....This is not to say that personal attractiveness and communications capabilities should be ignored in the recruitment of the next generation of political leaders. But if the aim of conservatives is not only to recharge the right politically, but also to be better able to govern the country as a result, putting all the renewal eggs in the charismatic leader basket would be a mistake for both conservatism and the country....
1. Greater recognition of the character traits that Canadians want to see in their elected officials – openness, honesty, transparency, integrity, compassion, humility – and making the possession of such traits a much more important factor in recruiting candidates, leaders and staff.

2. More clearly embracing those Canadian values – such as freedom, responsibility, equality of opportunity, stewardship, respect for life, democratic accountability – that conservatives want to strengthen and apply more rigorously to public policy.

3. Continue to strongly communicate the importance of trade liberalization, public-spending constraints, balanced budgets, debt reduction and tax relief.

4. Undertake a fresh round of policy development to strengthen the creative application of conservative values and principles to those areas where conservatives are, rightly or wrongly, seen to be weak or disinterested, such as poverty, inequality, health care, education, environment, science and culture.

5. Investing heavily in training conservative-oriented Canadians for more effective participation in the country’s political processes; providing more and better training for volunteers, constituency executives, campaign managers and candidates.

6. With respect to all of the above, consulting and involving ordinary Canadians at every stage – not just party insiders and elites.
Preston_Manning  conservatism  revitalization  intellectual_capital  human_capital  constituencies  rebuilding  think_tanks  political_infrastructure  institutions  politicians  institution-building  right-of-center  Canadian  values  training  Henry_Kissinger  organizational_capital  renewal  character_traits  charisma  APNSA  right-wing 
january 2016 by jerryking
Venezuela’s declining fortunes a lesson in mismanagement - The Globe and Mail
GWYN MORGAN
Special to The Globe and Mail
Published Sunday, Feb. 23 2014

The fact that Canadian oil production, which faces much greater technical challenges than in Venezuela, has grown steadily over the same period offers some fundamental lessons.

The first is that building a business requires reinvestment. Siphoning off cash to shareholders or governments stymies growth. The second lesson is that skilled people are always in demand, either in another company or another country. Without them, the only direction is down.

The third lesson is that, sooner or later, state-owned enterprises will be doomed by cronyism and dysfunction. The idea that it is up to government to set the rules, and business to hit the ball, separates free-market capitalism from command-and-control socialism. Which leads to a key lesson for those who cling to socialist philosophies: Distributing wealth, before creating it, impoverishes everyone. Only free-enterprise countries have managed to build strong and prosperous societies.
command-and-control  free-enterprise  Gwyn_Morgan  reinvestment  socialism  Venezuela  PDVSA  oil_industry  mismanagement  SOEs  human_capital  cronyism  dysfunction  decline 
may 2014 by jerryking
There Is a Reason Why Companies Have Invested in HR — Letters to the Editor - WSJ.com
I spent more than 25 years as a corporate head of HR in large corporations and currently consult in the field. Last year I attended a conference where the Container Store shared how it trains and develops employees. There is no HR department, but there is an HR function that originally was part of the marketing department. This caught my attention as I have been arguing for some time that effective HR needs to be a marketing effort. Marketing builds brands. Many companies spend little time helping develop and market their people. The real value of human-resource management is identifying, recruiting, managing, developing, retaining and compensating people to help build successful businesses and brands.
letters_to_the_editor  human_resources  personal_branding  marketing  human_capital  talent 
april 2014 by jerryking
How Dr. King Shaped My Work in Economics - NYTimes.com
August 27, 2013| NYT | By JOSEPH E. STIGLITZ.

The battle against outright discrimination is, regrettably far from over: 50 years after the march, and 45 years after the passage of the Fair Housing Act, major United States banks, like Wells Fargo, still discriminate on the basis of race, targeting the most vulnerable of our citizens for their predatory lending activities. Discrimination in the job market is pervasive and deep. Research suggests that applicants with African-American sounding names get fewer calls for interviews. Discrimination takes new forms; racial profiling remains rampant in many American cities, including through the stop-and-frisk policies that became standard practice in New York. Our incarceration rate is the world’s highest, although there are signs, finally, that fiscally strapped states are starting to see the folly, if not the inhumanity, of wasting so much human capital through mass incarceration. Almost 40 percent of prisoners are black. This tragedy has been documented powerfully by Michelle Alexander and other legal scholars.
African-Americans  books  economics  economists  fallacies_follies  human_capital  incarceration  Joseph_Stiglitz  mass_incarceration  MLK  predatory_practices  racial_discrimination  racial_disparities  social_justice 
august 2013 by jerryking
The headhunter’s role in the digital age - The Globe and Mail
RENEE SYLVESTRE-WILLIAMS

Special to The Globe and Mail

Published Thursday, Jun. 13 2013

headhunters can find and assess candidates to find the perfect person for a particular job. This saves companies a lot of time, she adds, making it worth their while to pay for a headhunter’s services.

“We identify the talent pool for that specific [job] requirement,” Ms. Pastor explains. “We want to find people who don’t contact us. LinkedIn is one tool and there is a small per cent of talented people there because not everyone is on it.”
executive_search  headhunters  LinkedIn  talent  human_resources  leadership  human_capital  talent_management  talent_pools 
june 2013 by jerryking
Taking Risk To the Marketplace
March 6, 2000 | Fortune Magazine | By Thomas A. Stewart.

* "You should always value the ability to move and change, because that creates options, and options are valuable,"
* Traditional risk management, with its emphasis on real property and financial events, isn't enough for knowledge companies, whose big risks are intellectual assets, such as brand equity, human capital, innovation, and their network of relationships.
* you have to know what's at risk-- which isn't always easy for intangible assets.
* Each intangible asset has a different risk profile.
*Thinking like a portfolio manager works for risk management as well as for strategy, says Bruce Pasternak, head of the strategic leadership practice at Booz Allen & Hamilton. In either case, adaptability is a cardinal virtue; the top goal is organizational flexibility. All-or-nothing bets like insurance have limited use in protecting cash flows from intangibles because their value is so uncertain, says Anjana Bhattacharee, director of Aporia, a British startup developing tools to manage those risks. Hedging also has problems. Says Bjarni Armannsson, head of the Icelandic Investment Bank in Reykjavik: "It's difficult to find a counterparty for intellectual risks." To hedge against falling gas prices, Enron can sell the risk to someone who fears rising prices, like a utility, but how do you hedge against a loss of expertise or brand equity

* Markets are full of risk, but it turns out that they're a lot safer than rigid structures. Intellectual assets and operations obey no one's command and are subject to discontinuous--i.e., quantum--change. There are four ways to respond to risk: Avoid it, reduce it, transfer it, or accept it. The one thing you can't do, if it's intellectual risk, is tie it up and subdue it.
Thomas_Stewart  risks  risk-management  organizational_flexibility  adaptability  binary_decisionmaking  intellectual_risks  human_capital  insurance  intellectual_assets  brand_equity  intangibles  networks  interconnections  discontinuities  expertise  portfolios  options  portfolio_management  cash_flows  generating_strategic_options  optionality  brittle  antifragility  step_change  counterparties  network_risk 
december 2012 by jerryking
How branding should boost your bottom line
December 5, 2012 |Toronto Caribbean | JG Francoeur.

“The single most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent. then you’ve got a terrible business.” says Warren Buffet. If you employ solid branding techniques you can do the same with your business. raise your prices and boost your income!
To build a good brand you must focus on the 5 P5 of branding. Start by answering this questions and building your branding plan.
* First is purpose: When someone hears your name. what do you want them to think?
* Second is proposition: Your proposition is your core competency. You've got to know yourself to grow yourself!
* Third is packaging: 55 percent of how people perceive you is visual and most small business owners look small, unprofessional and unreliable. You must convey an image that will inspire confidence for your prospects.
* Fourth are people: It’s simple but powerful, your net worth is equal to your network of people. Big brands are surrounded by other big brands and you can do the same if you employ a partnership model.
* Fifth is perseverance: Many business owners think clients will fall from the sky. They try one venture or one marketing initiative and because it’s not successful they quit. You must never quit because your dream is important not only to you but to others who you will inspire along the way.
branding  howto  brands  brand_purpose  packaging  perseverance  purpose  value_propositions  human_capital  the_single_most_important  pricing  Warren_Buffett  price_hikes 
december 2012 by jerryking
Managing Risk In the 21st Century
February 7, 2000 | Fortune | By Thomas A. Stewart.

Take risk management, a responsibility of the treasury function. Most risk managers haven't begun to cope with the real threats 21st-century companies face. Like the drunk in the old joke who looks for his lost keys under the streetlamp because the light is better there, risk management is dealing with visible classes of risk while greater, unmanaged dangers accumulate in the dark.

Risk--let's get this straight upfront--is good. The point of risk management isn't to eliminate it; that would eliminate reward. The point is to manage it--that is, to choose where to place bets, where to hedge bets, and where to avoid betting altogether. Though most risk-management tools--insurance, hedging, diversification, etc.--have to do with reducing loss, the goal is to maximize the gains from the risks you take (alpha? McDerment?)

So where should we look for these new risks?

--Your reputation or brand. When a bad batch of carbon dioxide in Coca-Cola sickened some Belgian children last summer, Coke's European operating income fell about $205 million, and Coca-Cola Enterprises, the bottler, incurred $103 million in costs. What about the cost to brand equity? One highly imperfect proxy: Coke's market capitalization fell $34 billion between June 30 and Sept. 30, 1999.

--Your business model. Asset-free, knowledge-intensive competition is to entrenched business models what the Panzer was to the Maginot Line. MP3s changed the music business more fundamentally than anything since radio. E*Trade, 18 years old, forced Merrill Lynch, 180, to change its way of doing business. Yet the new guys' very nimbleness creates its own risks, which traditional risk management can't help. You can protect the hard assets of a brick-and-mortar mall. Click-and-order stores are much more exposed: Cash flow is just about all they've got.

--Your human capital. The obvious human-capital risk is flight--especially in a tight labor market--but it's only part of a larger, subtler problem. When the CEO intones, "People are our most important asset," he's wrong, even if he's sincere. People are your most important investors. Your stock of human capital matters less than your flow of it. Any turbulence--and is there anything but turbulence these days?--can disrupt the flow, damaging your ability to attract human capital or people's desire to collaborate. Says Thomas Davenport, a partner at Towers Perrin: "Uncertainty is a real enemy of human capital. People rebalance their ROI by cutting back the investment."

--Your intellectual property. Many risks to intellectual property--theft, for example--can be dealt with in obvious, if sometimes onerous, ways. Here's the cutting-edge question: How do you manage risk in the process by which new intellectual property is created? How do you cope with the fact that the safer a given R&D project is, the less likely it is to be a big-money breakthrough? How do you balance the virtues of specialization against those of diversification?

--Your network. No company is an island, entire of itself; odds are your business is embedded in a network you do not control. It's not just that AOL might crash and cost you a few days' sales; your whole business may depend on tangible and intangible assets that belong to outsourcing partners, franchisees, sugar daddies, or standard-setters.
There are a couple of patterns here. First, an ever-greater part of business risk comes from sources your company can't own--people, partners, environments. Second, volatility isn't just a currency or stock market risk anymore. Labor markets, technologies, even business models oscillate at higher frequencies--their behavior more and more resembling that of financial markets.

In those patterns are hints of how to manage intellectual risks--which we'll examine next time.
risk-management  21st._century  risks  Thomas_Stewart  reputation  branding  business_models  financial_markets  talent_management  intellectual_property  networks  human_capital  turbulence  uncertainty  volatility  instability  nimbleness  labour_markets  accelerated_lifecycles  intellectual_assets  e-commerce  external_interaction  talent_flows  cash_flows  network_risk  proxies  specialization  diversification  unknowns  brand_equity  asset-light  insurance  hedging  alpha  Michael_McDerment 
june 2012 by jerryking
Human capital flight  - Stabroek News - Guyana
Human capital flight
By Stabroek staff | 8 Comments | Editorial | Saturday, March 3, 2012

"Five years ago a World Bank study found that seven of the ten countries with the highest emigration rates for college students were in the Caribbean. Guyana held the unenviable top spot with a jaw-dropping 89 per cent. Those rates and the flight of human capital they indicate, the so-called ‘brain-drain,’ have undoubtedly worsened since, even though immigration to Europe, North America and elsewhere has become far more difficult. Two years ago another World Bank report found that nearly three-quarters of the nurses trained in the anglophone Caribbean end up working in the Britain, Canada or the United States."
brain_drain  emigration  guyana  human_capital  Caribbean  World_Bank 
march 2012 by jerryking
One Way of Insuring The Risky Business of Life - WSJ.com
APRIL 24, 2003 | WSJ | By DAVID R. HENDERSON. Financial derivatives have, in essence, allowed companies to buy insurance against swings in prices.

Wouldn't it be nice if individuals could join this game, hedging against, say, losses in income or in the equity value of houses? We will probably soon be able to, according to Robert J. Shiller in "The New Financial Order" (Princeton, 366 pages, $29.95).

Mr. Shiller, a finance economist at Yale University, writes that the information-technology revolution is making it easier to get good data on the home prices in various markets and on incomes in various occupations -- and to subject such data to reliable analysis. Once we know the numbers, he argues, we can hedge the risks.
hedging  derivatives  risks  book_reviews  personal_finance  Robert_Shiller  Yale  home_ownership  personal_beta  human_capital  quantified_self 
november 2011 by jerryking
Put out the welcome sign for immigrants
Nov 3, 2010 / Financial Times pg. 14 / Luke Johnson. Importing
human capital generates wealth. They bring ideas - and often financial capital - and force us to raise our game to compete. Throughout history, those who would expel or persecute industrious communities - like Nazi Germany and the Jews, Idi Amin's Uganda and Asians - have been the big
losers. What we need is brainpower and willpower - they are the greatest
natural resources. Migrants are a self-selecting minority and tend to
be young and enterprising. We should continue to make our country
attractive to arrivals from all over the world who want to start a
business.
ProQuest  Luke_Johnson  human_capital  wealth_creation  self-selecting  migrants  immigrants  immigration  ethnic_communities  willpower  expulsions  displacement  persecution  Uganda  Idi_Amin  brainpower  South_Asians  natural_resources 
november 2010 by jerryking
Toward a New American Century - WSJ.com
OCTOBER 7, 2010 Wall Street Journal by Michael Milken. Despite
high unemployment, declining education standards and greater
competition from China and other countries, we can extend America's
pre-eminence long into the future if the public and private sectors—and
all of us as individuals—assume greater responsibility for our common
destiny.

Six areas in particular provide opportunities for positive change:

• Housing. • Entitlements. • Education. • Health.• Immigration.• Energy.
Michael_Milken  immigration  human_capital  education  energy  entitlements  housing 
october 2010 by jerryking
The 15 Minutes that Could Save Five Years
June 16, 2010 | Harvard Business Review | by Michael Schrage.
We're facing the end of retirement as we know it — an emerging
unpleasant reality that will (re)shape the quality of life and standard
of living for billions. we all need to start dealing with it.
Now....Forget the "saving for retirement" shibboleths. Strategically
addressing those 60+ months after age 65 may be the most significant
long-range planning investment in your human capital portfolio....Who
are the 70+ year olds whose presence, energy, and effectiveness might
profitably serve as the benchmarks for your own?
Michael_Schrage  retirement  HBR  personal_finance  long-range  aging  human_capital  role_models  Kauffman_Foundation  Zoomers  long-term  shibboleths  savings  planning  myths  strategic_thinking  JCK  endgame  Second_Acts 
june 2010 by jerryking
Think Smarter About Risk - WSJ.com
JUNE 14, 2010 | Wall Street Journal | By MOSHE A. MILEVSKY.
Too many investors may be taking big chances with their money because
they aren't considering the most important asset of all: themselves.
"Eventually some clever teenager will develop an iPod app in which users
specify background demographic information about themselves, where they
live, educational achievements, job history, etc. They will then
receive daily updates on the value of their entire personal balance
sheet, including their human-capital value and personal beta. At first
this mark-to-market value of You Inc. will be crude, blunt and
controversial. But over time—and by tapping into the vast array of data
from the clouds—this valuation will be refined to the same level of
accuracy as any closing price on a mutual fund....One thing, though, is
certain: Knowing your personal beta will help you manage your total risk
more effectively. And that is always a safe strategy."
howto  risk-assessment  insurance  massive_data_sets  cloud_computing  personal_finance  derivatives  human_capital  hedging  risk-management  VaR  personal_data  personal_beta  quantified_self  risks  demographic_information 
june 2010 by jerryking
Wealth Matters - Learning How to Hedge Yourself, Not Just Your Portfolio - NYTimes.com
March 5, 2010 | New York Times | By PAUL SULLIVAN. “People
have learned in the last few years that their human capital is much more
sensitive to the financial markets than they thought,” said Moshe
Milevsky, a professor of business at York University in Toronto and the
author of the book, “Are You a Stock or a Bond?” (FT Press, 2008).
hedging  human_capital  financial_capital  books  wealth_management  personal_finance  personal_beta  quantified_self  self-worth 
april 2010 by jerryking
A Marshall Plan for Haiti? Think again
Feb. 19, 2010 | The Globe & Mail | by David Carment and
Yiagadeesen Samy. If the Marshall Plan caused Europe to grow, it was
because Europe had a number of favourable pre-conditions that are
largely absent in Haiti: high levels of human capital, a long history of
democratic institutions and rule of law, private enterprise, and
trading history....To address problems of absorptive capacity, Canada
and its donor partners will need a strategy that clearly lays out the
sequencing of building political authority, legitimate governance and
sound economic capacity.

An effective strategic plan begins by specifying the end results that
are expected from those investments, the risks in achieving those
results, and indicators that track a reduction in those risks over time.
In short, a road map is only useful if you know your final destination.
Haiti  economic_development  democratic_institutions  relief_recovery_reconstruction  absorptive_capacity  strategic_planning  Marshall_Plan  roadmaps  human_capital  rule_of_law 
february 2010 by jerryking
Book Review: "Start-Up Nation" - WSJ.com
NOVEMBER 23, 2009 | Wall Street Journal | by JAMES K.
GLASSMAN. Israel is the world's techno-nation. Civilian
research-and-development expenditures run 4.5% of the gross domestic
product—half-again the level of the U.S., Germany or South Korea—and
venture-capital investment per capita is 2½ times that of the U.S. and
six times that of the United Kingdom. Even in absolute terms, Israel has
only the U.S.—with more than 40 times the population—as a challenger.
One important question that "Start-Up Nation" raises is: Why Israel and
not elsewhere? The authors dispose, a bit too blithely, the argument
from ethnic or religious exceptionalism, dismissing "unitary Jewishness"
or even individual talent as major reasons for Israel's high-tech
success. (George Gilder, in a recent book treating some of the same
matters, "The Israel Test," disagrees: "Israel today concentrates the
genius of the Jews.")
Israel  technology  science_&_technology  venture_capital  cultural_values  innovation  book_reviews  Jewish  human_capital  capitalization 
november 2009 by jerryking
Despite Cutbacks, Firms Invest in Developing Leaders - WSJ.com
FEBRUARY 9, 2009 | Wall Street Journal | By DANA MATTIOLI.
Despite layoffs and recession-starved budgets, many employers are
investing in leadership-development programs, hoping not to be caught
short of strong managers when the economy recovers.
human_capital  Canon  corporate_universities  leadership_development  Freshbooks  cost-cutting  Dana_Mattioli 
february 2009 by jerryking
Out of the Clubhouse and Into the Classroom
December 10, 2006 NYT column by Ben Stein on how he obtained
the benefit of human capital that privileged young Americans get from
having smart, well-educated parents who get them interesting,
educational jobs that also offer great personal connections....Now I know that some of my readers are waiting for me to say we should tax the rich more to pay for better medical care for the folks without insurance — and we should. But I am not going to say we that should tax the rich more to pay for better education for the non-rich. It is clear beyond doubt that more money spent per pupil does not necessarily offer better results per pupil. So not every answer is “tax the rich.”

BUT the rich know something. They know how markets work. They know how to get from nowhere to somewhere. They know what kind of work ethic works. They know what savings means. The rich of this country often — not always — know how the world works, as far as money is concerned. They are a vast reservoir of advice and example for how to get ahead.

I wonder if there is a way that these people can be brought off of the fairways of the nation’s country clubs and put before the students of America to tell them how the world works and how to make their way in it. Yes, I want to tax the rich more for military pay, to try to close the deficit, to rebuild the military equipment of the nation. But maybe the rich can offer their minds and their skills to the non-rich, too, to teach them the way up.
Ben_Stein  Communicating_&_Connecting  high_net_worth  human_capital  movingonup  networking  networks  personal_connections  savings  social_capital  sophisticated  work_ethic 
january 2009 by jerryking
The HR Department: Give It More Respect - WSJ.com
March 10, 2008 WSJ article by Edward Lawler III on initiatives
that HR departments should be doing: advising top management on strategy
and organizational effectiveness. Do so while using the latest
technology and talent.
human_resources  leadership  human_capital  talent_management  advice  indispensable 
january 2009 by jerryking

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