Tag Archives: Crisis

Great reset: the Florida way to constructive capitalism!

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I’ve finished reading the book “The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity” where I could find important contributions to constructive capitalism. I feel myself obliged to share with you some of Richard Florida thoughts.

Governments role

“Meaningful recovery will require a lot more than government bailouts, stimuli, and other patchwork measures designed to resuscitate the old system or to create illusory, short-term upticks in the stock market, housing market, or car sales.”

“Government spending can’t be the solution in the long run…it simply lacks the resources to generate the enormous level of demand needed to power sustained growth.”

“We need to revamp our governmental institutions and governance structure…with less authority at the top and more at the local and regional levels.”

Great Resets

“They are the great transformative moments when new technologies and technological systems arise, when the economy is recast and society remade, and when the places we live and work change to suit new needs.”

“The challenge is to accelerate the transition from the old to the new order…”

“Our efforts must concentrate on actively building the economy of the future. Instead of infusing scarce capital into the very banks and financial system that brought us to the brink in the first place…”

“…and instead of bailing out mismanaged old-economy companies, we must use whatever resources are available to accelerate the transition to an idea-driven economy…”

People, ideas and opportunites

“…we all have something we’re good at, our own creative spark, and there’s little in life more satisfying and rewarding than the chance to exercise that talent. The real key to economic growth lies in harnessing the full creative talents of every one of us.”

“The key is to expand the very concept of a social safety net, from one that provides just material well-being to one that provides real opportunity for every person.”

“We need to increase the velocity of moving people, goods, and ideas.”

“We need to support the growth of higher-paying knowledge, professional and creative jobs, and make sure that greater numbers of workers are prepared for them.”

Learning 2.0

“We need a learning and development system that is sync with the new creative economy.”

“We need a system of learning and human development that mobilizes and harnesses human creative talent en masse.”

Constructive capitalism – out of crisis

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The crisis currently live exhibits traits similar to those occurring in 1873 and 1929 (banking crisis caused by: insolvent mortgages and complex financial instruments) that, as in reports Richard Florida, in his latest book "The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity“, were related to practices and old systems and organizations with their misplaced time.

Still In Florida, post-crisis periods are often of great ingenuity, and culminate with the creation of a new economy more in line with the reality of people.

"Os EUA. and other advanced nations have learned a critical lesson: a workforce that is competent and talented is a cornerstone of economic competitiveness. Spirit initiative, motivation and willingness to work are no longer sufficient. Questioning and analysis, knowledge and ingenuity ...(are) the necessary tools to the modern world. " (Florida, 2010)

To Florida, the areas of education and research (beyond the business and management; Arts, entertainment and media; finances) sectors are crucial to economic growth, supporting its claim on evidence of the steps taken to leave the two major economic crises abovementioned:

Crisis 1873
• Creation, by Thomas Edison's "laboratory" Edison Electric Light Company (1876)
• First course in electrical engineering at MIT (1882);
• In the U.S., the number of engineering schools from six (1862) for one hundred twenty-six (1917). The number of graduates increased from 100 (1870) to 4.300 at the end of World War I;

Crisis 1929
• In E.UA., Between 1929 and 1933 were created 73 laboratories for research and development (pa during the decade of 1920 were created 66);
• The number of people working in research and development, in E.UA., quadriplicou: 7000 (1929), 28000 (1940);
• The percentage of Americans who completed high school rose from 20% in 1920, to 50% in 1950.
• In 1940, about 500.000 americanos frequentavam a Universidade, in 1960, were more than 3.5 million. in 1970, were 7.5 million (40% of adults old enough to attend the University) and, in 1990, almost 17 million.

In addition to these data, must be aware that workers in the new economy (knowledge and creativity), need to acquire new skills, such as:

Analytical skills - Pattern Recognition, creative problem solving;

Social intelligence - situational and power Sensibilidade persuasão (necessary for the creation and mobilization of teams)

We are faced with the reality of having to build a new capitalism (the Constructive capitalism), which implies change (organizations, practices and systems) all that no longer fits the reality of the world we live in and, ensure that entrepreneurship constructive (because it suits the real needs of people) Dynamic gain an increasing.

Given the foregoing, I think it becomes increasingly clear that it is crucial to the emergence of ecosystems that join various organizations related to research, education and business practice , which are responsible for developing proposals for new models (Business, organizacionais e de governance), that bring competitive advantages (actually) persons and organizations who embrace the practice of capitalism constructive.