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Week of July 9 - July 15, 2007 |
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Does Productivity Growth Trickle Down?
As more Americans become
concerned about growing economic inequality, many people are beginning
to question the validity of the well-known claim that “a rising tide
lifts all boats.” In other words, Americans have long believed that
economic growth helps all citizens. But, in an increasingly globalized
world, many now contend that only the rich are getting richer. A new
Information Technology and Innovation Foundation report seeks to shed
more light on this debate. The study, by economist Stephen Rose, finds
that economic inequality is rising in the US. However, contrary to the
claims of some observers, it is not true that productivity growth is
only benefiting the wealthy. Rose contends that researchers are
misreading economic data and not fully accounting for major demographic
shifts such as smaller family sizes and the entry of women into the
workforce. When these factors are noted, Rose finds that average
American workers have seen a significant rise in wealth, even though the
proportion accruing to the wealthy is slightly higher. Rose’s primary
claim is not just about the numbers. He argues that progressive policy
makers must continue to support initiatives that focus on improving
innovation and stimulating productivity growth. Contrary to popular
belief, these policies won’t just help the rich get richer. They will
also help improve the lives of all Americans. |
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Faced with increased threats
of terrorism and natural disasters, business and political leaders are
growing concerned about how to protect themselves in the event of major
catastrophes. A new study from the Council on Competitiveness argues
that businesses must begin making greater investments in economic
resilience, i.e. the capacity to “mitigate and recover quickly from
disruption.” At present, corporate leaders are not placing sufficient
attention on operational risk management. As a result, they are poorly
equipped to respond to a spectrum of risks ranging from a major natural
disaster to a more short-term disruption of service due to technology
glitches. The report concludes that “resilience trumps protection.” In
other words, it is likely impossible to prepare for or stop all
potential threats. It makes more sense for firms to invest in
resilience. By creating the capacity to anticipate risk, limit impact,
and bounce back quickly, firms and local economies will be greatly
strengthened. |
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The business press is full
of stories on the impact of Web 2.0 and other new digital technologies,
yet these new products and services are transforming all parts of our
society, including the operations of Federal, state and local government
agencies. A new series of research reports examines how new digital
technologies are transforming government activities and operations. One
new report presents a case study of Philadelphia’s efforts to introduce
municipal wireless for city residents. A second report examines efforts
to bridge the digital divide for disadvantaged populations. In a third
report, researcher David Wyld, reviews how government agencies are using
blogs to improve customer service, to engage citizens, and to improve
internal communications efforts. The report includes a case study of how
the U.S. Strategic Command (STRATCOM) is using blogs to improve internal
communications flow. Finally, the report looks ahead to how other new
technologies, such as Second Life, may change how election campaigns and
public agencies operate. |
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Best Lemonade Stand in America
Inc. magazine is back with
its 2nd annual “Best Lemonade Stand in America” contest. The contest is
open to all kid-preneurs (between ages 5 and 12) who must submit an
application before September 3, 2007. Inc.’s editors and readers will
select the winner who will receive a $1000 savings bond. The Inc.
website contains all the rules and details -- as well as interviews with
last year’s winners and tips for making a cool lemonade stand of your
own. |
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Technology Trends and Small Business
As part of its “Future of
Small Business” project, Intuit has recently a second report that
examines key issues facing entrepreneurs. The latest study examines how
small firms can prosper in the “connected world” where new technologies
will change nearly everything about running a business. The study flags
three key trends. First, mobile devices and new analytical tools and
devices will free entrepreneurs from spending too much time on mundane
managerial tasks. Second, as on-line networks grow in scale and scope,
small businesses will be able to build global partnerships and will face
limited technology hurdles when it comes to starting or growing their
companies. Finally, marketing will move from a “push” to a “pull”
mentality. Instead of pushing information out to potential customers,
businesses will need to emphasize providing customers with the right
information at the right time in the right context. As such, a firm’s
on-line presence will become the critical factor in its subsequent
success. |
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The National Dialogue on Entrepreneurship is an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving entrepreneurship around the world. Subscribe now to receive your weekly copy. Archived issues are available online. |
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National Dialogue on Entrepreneurship
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All
stories © 2007 The Public Forum Institute
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