Rise of the Talent Economy

Has talent killed capitalism? In the traditional sense, absolutely! And that’s one the positive effects of globalization. Power in the ‘yes’ economy is moving increasingly in favor of the creative, small, quick-thinking, agile business, country or individual.

positive effects of globalizationSo, to say that the traditional sense of capitalism is dead isn’t overstating our current global environment. More precisely, the greatest philosophy that has fueled the world’s most successful economies is evolving. For the Huffington Post blog, Klaus Schwab founder and executive chairman of the World Economic Forum, writes that financial resources ruled capitalism until recently. The more capital a business could acquire, the more power it possessed, the more influence it could wield.

But things started to change with the advent of the Internet, which leveled the marketplace. The Information Age was born and information became cheap, and the bar to enter the marketplace lost tremendous value.

In my book, Globalization Opportunities and Implications: The ABCs to a global social revolution, I write, “The most important value of the information age [became] intellectual capital, much more so than financial capital. “

Shared value creation and powerful social networks are growing stronger, quicker, and faster than ever before. In this new environment, “capital is being superseded by creativity and the ability to innovate,” as Schwab has written. He continues, “If talent is becoming the decisive competitive factor, we can be confident in stating that capitalism is being replaced by talentism.”

This is no dream, either. The positive effects of what Schwab and I write about are shedding light in countries with economic growth, such as the Scandinavian countries, and in far eastern economies too. Check out our post on “What do Singapore and Congo (DRC) have in common?

There really isn’t anything these countries have in common. Congo is a miserable failure, even though it’s resources are immense. From the perspective of the old capitalism paradigm, it should be prosperous, powerful – influential. Not so.

Singapore, however, has very little in natural resources among other old-school success indicators, but its gross domestic product is nearly 31 times greater than the Congo, its exports are just over 40 times greater than the Congo’s, and its per capita gross domestic product is nearly 200 times that of the Congo.

What’s fueling this? Creative, talented, socially responsible leadership.

Related Posts Plugin for WordPress, Blogger...
About Martin Marmolejo

Global Investment Manager | Founder & Managing Director at MMA Global Investment Management | Proud husband and father | Follow me @globalmarmolejo.

Comments

  1. Heya i am for the first time here. I came across this board and I find It really useful & it helped me out a lot. I hope to give something back and help others like you helped me.

  2. I simply want to tell you that I am just all new to weblog and really liked this website. Very likely I’m likely to bookmark your blog . You certainly have superb writings. Thanks a bunch for sharing with us your blog.

  3. Fun post, I actually had a good time reading it, keep doing all the good efforts.

Trackbacks

  1. Read More Here…

    […]That is a very good tip particularly to those fresh to the blogosphere. Simple but very accurate information… Thanks for sharing this one. A must read post![…]…

Leave a Reply to Martin Marmolejo Cancel reply

%d bloggers like this: