When financial policymakers attempt to promote economic growth, they almost invariably focus on looking for new ways to unleash capital. But, though this approach may have worked in the past, it risks giving short shrift to the role that talent plays in generating and realizing the ideas that make growth possible.
GENEVA – When financial policymakers attempt to promote economic growth, they almost invariably focus on looking for new ways to unleash capital. But, although this approach may have worked in the past, it risks giving short shrift to the role that talent plays in generating and realizing the ideas that make growth possible. Indeed, in a future of rapid technological change and widespread automation, the determining factor – or crippling limit – to innovation, competiveness, and growth is less likely to be the availability of capital than the existence of a skilled workforce.
GENEVA – When financial policymakers attempt to promote economic growth, they almost invariably focus on looking for new ways to unleash capital. But, although this approach may have worked in the past, it risks giving short shrift to the role that talent plays in generating and realizing the ideas that make growth possible. Indeed, in a future of rapid technological change and widespread automation, the determining factor – or crippling limit – to innovation, competiveness, and growth is less likely to be the availability of capital than the existence of a skilled workforce.