It’s difficult to express how important and worthwhile analysis this is.
Chris Tolles points us to what I have to say is an absolute must read piece by Jim Manzi (who I haven’t always agreed with in the past), exploring the biggest challenge the US faces in going forward. It’s difficult to express how important and worthwhile analysis this is. I don’t agree with everything, but it frames the issues in ways that are incredibly helpful. There’s very little I disagree with in the first half, which highlights the basic struggle that the US faces in really clear terms: innovation is necessary for economic growth, and less government interference is key for the type of innovation we need. However, with such innovation comes social upheaval and disruption that creates a different set of problems that could be just as bad for the US:
Our strategic situation is shaped by three inescapable realities. First is the inherent conflict between the creative destruction involved in free-market capitalism and the innate human propensity to avoid risk and change. Second is ever-increasing international competition. And third is the growing disparity in behavioral norms and social conditions between the upper and lower income strata of American society.
These realities combine to form a daunting problem. And the task of resolving it turns out not, by and large, to be a matter of foreign policy. Rather, it compels us to consider how we balance economic dynamism and growth against the unity and stability of our society. After all, we must have continuous, rapid technological and business-model innovation to grow our economy fast enough to avoid losing power to those who do not share America’s values — and this innovation requires increasingly deregulated markets and fewer restrictions on behavior. But such deregulation would cause significant displacement and disruption that could seriously undermine America’s social cohesion — which is not only essential to a decent and just society, but also to producing the kind of skilled and responsible citizens that free markets ultimately require. Moreover, preserving the integrity of our social fabric by minimizing the divisions that can rend society often requires government policies — to reduce inequality or ensure access to jobs, education, housing, or health care — that can in turn undercut growth and prosperity. Neither innovation nor cohesion can do without the other, but neither, it seems, can avoid undermining the other.
There’s a lot in the piece that I wanted to quote, but you should just go read the whole thing yourself. Manzi basically points out the difficulty in pulling any of the levers: if you increase the pace of innovation, you also increase social upheaval at the lower end of the pyramid. But if you work to protect social upheaval, you decrease the pace of innovation, and in a global economy, that can actually lead to another set of problems that, in turn, also could result in serious problems for the economy.
It’s a really sobering picture that is inherently non-partisan, and highlights how the views and plans of both major political parties, when implemented by people who don’t understand these countervailing forces, is likely to make the overall situation worse, not better.
The Latest on: Innovation and social upheaval
[google_news title=”” keyword=”Innovation and social upheaval” num_posts=”10″ blurb_length=”0″ show_thumb=”left”]
via Google News
The Latest on: Innovation and social upheaval
- Elon Musk Under Scrutiny as Tesla Struggles in Competitive EV Marketon April 25, 2024 at 2:00 pm
Tesla's challenges are compounded by its shaky position in China—a market crucial to its future. The situation in China is deteriorating at a time when Tesla needs stability and growth in this key ...
- Artificial Intelligence: Is It A Looming Threat To Employment Generation?on April 24, 2024 at 7:30 pm
By Zahid Ahmad Lone In the rapidly evolving landscape of technology, the advent of Artificial Intelligence (AI) has spa ...
- Uranus and Jupiter to make once-in-14-year meet up and it will impact all of uson April 20, 2024 at 12:48 pm
The malefic planet, Jupiter, will be meeting up with the planet of disruption, Uranus, in a rare once-in-every-14-year transit. This is how it will impact us.
- UpPrize Social Innovation Challenge 2024 starts soon with $300,000 poolon April 17, 2024 at 1:42 pm
The 2024 UpPrize Social Innovation Challenge launches on May 2 with a pool of $300,000 and accelerator assistance.
- An intro to innovation in the U.S. governmenton April 11, 2024 at 10:34 am
It’s time to take a closer look at the importance of innovation in the U.S. government, as well as the concept of innovation without disruption—a strategic approach to helping governments pursue ...
- See social innovation in action at The Pitch, United Way’s annual competitionon April 11, 2024 at 7:00 am
The nonprofit’s social innovation work is one key to this goal. By adopting an innovative mindset and partnering with local social entrepreneurs, United Way taps into new and creative solutions ...
- Reinventing Procurement: From Cost Center to Innovation Driveron April 9, 2024 at 5:00 pm
Procurement probably isn’t what springs to mind when discussing digital transformation.Historically, procurement has often been viewed as a cost center. Today, after ...
- Social innovation in Sablayanon April 8, 2024 at 9:05 am
I am very hopeful that in the Philippines, social innovation — new social practices that aim to meet social needs in a better way jointly curated by private, public and civil society sectors — will ...
- Top Companies for Social Responsibilityon April 3, 2024 at 8:00 am
The five main components of the ranking are customer satisfaction, employee engagement and development, innovation, social responsibility and financial strength.
- Innovation Forum 2024: Business Strategies For An Age Of Upheavalon March 28, 2024 at 10:32 pm
March 27, 2024 00:00 AM UTC - Updated April 04, 2024 21:13 PM UTC Victor Fung, Chairman, Fung Investments Dipali Goenka, Managing Director And Ceo, Welspun Living Limited Joseph Ngai, Chairman ...
via Bing News