In a recent Article via the World Economic Forum, author Alexandre Lemille – Co-founder and general secretary, African Circular Economy Network – describes the Circular Economy – a future scenario on my anchor Visual. In doing so, he shows how our current model extracts resources, transforms them into products, and consumes or uses them, prior to disposal. He describes how recycling actually distracts from the realization of a true circular economy – as recycling only starts at the throwing-away stage: this is a process that is not made to preserve or increase value nor to enhance materials.
I just added Capitalism Alone to my Book Library. Written by Branko Milanovic, the book chronicles the journey of capitalism towards the dominant economic system in the world. A major focus of the book is the comparison of Liberal Capitalism in the west yo Political Capitalism exemplified by China. Another book that instructs from a historical context – providing possible Guidance as we look forward. A great look into why communism and socialism failed, how they are linked, and what the future of capitalism might look like. The book abstract from Amazon is included below.
We are all capitalists now. For the first time in human history, the globe is dominated by one economic system. In Capitalism, Alone, leading economist Branko Milanovic explains the reasons for this decisive historical shift since the days of feudalism and, later, communism. Surveying the varieties of capitalism, he asks: What are the prospects for a fairer world now that capitalism is the only game in town? His conclusions are sobering, but not fatalistic. Capitalism gets much wrong, but also much right―and it is not going anywhere. Our task is to improve it.
Milanovic argues that capitalism has triumphed because it works. It delivers prosperity and gratifies human desires for autonomy. But it comes with a moral price, pushing us to treat material success as the ultimate goal. And it offers no guarantee of stability. In the West, liberal capitalism creaks under the strains of inequality and capitalist excess. That model now fights for hearts and minds with political capitalism, exemplified by China, which many claim is more efficient, but which is more vulnerable to corruption and, when growth is slow, social unrest. As for the economic problems of the Global South, Milanovic offers a creative, if controversial, plan for large-scale migration. Looking to the future, he dismisses prophets who proclaim some single outcome to be inevitable, whether worldwide prosperity or robot-driven mass unemployment. Capitalism is a risky system. But it is a human system. Our choices, and how clearly we see them, will determine how it serves us.
A changing of the guard has been in motion for some time. In 2020, Millennials will be the dominant workforce on the planet. The five generations in our workforce introduce a leadership challenge, alongside disruptive forces swirling around society. The truth is that millennials are likely the generation tasked with solving this broad set of societal challenges. This recent Forbes Article says it well. The challenges likely facing this generation include: technologies like AI, shifting business models, the implications of near zero marginal cost, the resources of the planet, the nature of house ownership, transportation, healthcare, work, education and families.
Fundamental questions about Why and how we Educate will have to be addressed for the first time since the introduction of high school. Additionally, this generation will have to deal with an Aging Society. As Michael Gale – the author of the above article – describes, one in four millennials are already directly managing a parents’ ill health on a daily basis. The added burden of college debt could create additional obstacles to success.
There has been a negative stigma associated with this generation. However, they are not the problem but part of the solution. As 72% of the Global 2000 continue their digital transformation journey, millennials offer a perspective that helps realize intended outcomes. The Forbes Article describes five things that you can do to enable this – take a look.
I just added another fascinating book to my Book Library titled The Economist’s Hour authored by Binyamin Appelbaum. Mr. Appelbaum is the lead writer on economics and business for The New York Times Editorial Board. From 2010 to 2019, he was a Washington correspondent for the Times, covering economic policy.
I find every journey to the past instructive, and my hope is we can Learn from History. This book chronicles the role of the Economist, their foray into political waters, and their societal impact. Looking back in time can be surprising, as core beliefs are challenged. What can we learn from this look back? What do we do differently as a result? This is a fascinating journey that I highly recommend. The book abstract from Amazon is included below. The author’s conclusion?
Their fundamental belief? That government should stop trying to manage the economy. Their guiding principle? That markets would deliver steady growth, and ensure that all Americans shared in the benefits. But the Economists’ Hour failed to deliver on its promise of broad prosperity. And the single-minded embrace of markets has come at the expense of economic equality, the health of liberal democracy, and future generations.
A recent Article on the future of work focused on an important piece of the story: a future employee compensation model. Author Dwight Chestnut proposes a new model that he calls the Empowered Employee Compensation Model (EECM). This new workplace compensation model was the result of a new economic research initiative. The model replaces hourly wages, salaries and benefits with ten new income resources and benefits and is projected to drive a three-fold increase in the aggregate standard of living.
We spend so much time focused on disruption driven by advancement in science and technology – that we can lose sight of the massive amount of societal factors to be considered. When looking at the interplay between an exponential progression of innovation and those factors that impact society, we can see that the impacts run in Both Directions.
The notion that a renaissance man is more important today than ever is presented in recent Research by Burning Glass Technologies. Perhaps the best renaissance man of all time was Leonardo da Vinci, who was highly esteemed for his broad knowledge of many fields. The research concludes that we must all become more da Vinci-like in our careers. Said another way: learning a single skill in isolation has a short shelf life. Learning complementary skills becomes critical in what the research describes as a hybrid job economy.