Tuck School event: The Innovation Shortfall

Posted by: Michael Mandel on September 23

Next week (September 30), I’m going to be speaking at the Center for International Business at the Tuck School at Dartmouth. The topic will be “The Innovation Shortfall: America’s Hidden Global Failure.”

(fixed the date)

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Reader Comments

Art

September 23, 2009 04:14 PM

You mean September 30.

Joe Cushing

September 23, 2009 08:15 PM

You never know, the next new revolutionary tech might be unknown but well underway.

That said, we need less government intervention into business. Get rid of all these licenses for every type of business. Make it easier for people to start small businesses. Those are the people who will bring us innovation.

Are you serious?

September 23, 2009 09:21 PM

Right Joe - less government regulation is what got us into this economic recession and banking disasters.

We've tried your approach and it failed big time. Thanks, but no thanks.

It's clear most people world over agree - we need more government regulation.

downhill

September 24, 2009 12:54 AM

The tech startups did not bring the recession nor debacle to the financial sector, which has proven it cannot go unstable without gov't regulation. Generalizing beyond the financial sector has no basis, adds burden, discourages startups, and ultimately slows America's recovery. Think Sarbanne-Oxley enacted in response to Worldcom, Enron, Tyco, and Peregrine and how it adds a few millions in audit and directors&officers insurance costs to small public companies having revenues less than $200 millions. Good intention can have unintended consequences, especially when not attended to with well-studied pre-enactment modeling.

Mike Reardon

September 25, 2009 05:00 AM

The lack of wage growth over the last decade it is s clearly because there was no compelling force that required profit sharing with labor. Innovation and employment are not in this economy a force that demands sharing.

Skipping silo investment into multiple bubbles and financial manipulation of returns, unregulated market frauds, corporate repurchase of billions in inflated stocks now in bankruptcy or somewhere down in the teens, and also massive immigration and globalization. Greater returns were the only compelling force for corporations, the stock markets, and the only force instructional investors would allow for all of these ten years.

Even if innovation took place here, on a scale equal something dropped off by aliens with national impact. The market now more than ever is seeking greater returns against stock prices.

Even if not the best for an economy needing employment, this market wants first and foremost what it has wanted for the last ten years, enhanced returns on invested dollars.

Those gains from greater productivity over these last ten years are not now being shared with labor. And so many other ways around sharing profit and corporate/labor contract obligation have been institutionalized within this economy. Even all new employment, will now only gain a return below the sealing allowed for labors share in the economy.

downhill's comment above mentions, Worldcom, Enron, and Tyco. With the Bankruptcy of the Dot-com and the repurchase of those inflated shares all lost public investor and employee funds, Trillions and took down the stock sharing arrangements of almost every major corporation. If you add Merrill, B of A, and AIG and the 8000 hedge fund that worked the economy as it hit a 2008 DOW at 14000, labor employment is set at a flat share in this economy and nothing has compelled its gaining a share in the returns of business.

David James Brunner

September 25, 2009 11:48 AM

Michael, Is it possible to watch your speech online or download your presentation materials? I'm very interested in your argument, and I suspect that many others are, too.

- David

David James Brunner

September 25, 2009 11:48 AM

Michael, Is it possible to watch your speech online or download your presentation materials? I'm very interested in your argument, and I suspect that many others are, too.

- David

Mike Mandel

September 28, 2009 08:17 AM

Will download my presentation, for sure.

Thank you for your interest. This blog is no longer active.

 

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Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.

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