Local distiller Corsair got a massive attaboy this morning from Fast Company's editors and reporters, which named the company one of the world's most innovative in the food industry. Darek Bell and his team get big props for using nontraditional grains and for planning to use smoked woods from Bell's local farm.
We are still living in the aftermath of the debt crisis and the cost of that bust has also been distributed unequally. For one thing, unemployment is hurting the bottom swath of the population more than the top. While U.S. unemployment is now 9.5%, the bottom 40% of the labor force suffers from a 17% unemployment rate. In the top 30% of the labor pool, that rate is just 4%, according to Harvard Magazine. Meanwhile, Wall Street -- which includes a solid share of the top 1% -- paid itself near record bonuses -- up 17% in 2009 to $20.3 billion -- and is on a hiring binge.How do we restore balance? Cohan writes our best hope is "technology-led innovation that creates jobs for many more Americans."
Genuinely revolutionary technological innovations are rare, and when they appear, there is a long time lag before they begin to transform the economy and daily life. The steam engine was used for nearly a century to pump water from British mines before it was successfully applied to manufacturing and transportation. The gasoline-powered car was invented in the 1880s, but mass automobile use had to wait until the 1920s in the U.S. and the 1950s and '60s in Europe and Japan. There was a similar delay between the invention of the computer and the microprocessor and the widespread adoption of the PC in the 1990s and 2000s. Even if there are dramatic breakthroughs in nanotech or biotech tomorrow, we may not enjoy the benefits for decades, or generations.HT: Paul Kedrosky
"If automakers were paid by the bolt, cars would be brimming with bolts," Harvard Medical School professor Jeff Levin-Scherz writes in the April 2010 Harvard Business Review. In the U.S., we pay for health care "by the bolt," shelling out for units of service rather than results, rewarding volume over value, and encouraging extra visits, procedures, and tests. Some studies show that salaried physicians, who have nothing to gain by doing lots of tests and procedures, do fewer of them than doctors paid on a fee-for-service basis.HT: The Nashville Medical Trade Center
[I]n the absence of such innovation-led growth, America will be locked into an endless loop of borrowing more money to make up the difference between what American workers want and what their incomes -- or lack thereof -- make it possible for them to buy.
The policymakers, at least, are aware. Agreement on what needs to be done was total. Accountability; competition; pay for performance; finding and training good teachers, and shedding bad ones. It’s not that hard, in principle. In practice, because of the teachers’ unions, it’s like pulling teeth.
POSTDATA: WARRANTY DEEDS