After being surprised by Joseph Schumpeter’s views on socialism and capitalism, I wanted to explore another perspective. I could not think of a better defender of capitalism than Ayn Rand. While my research is not about politics, and I usually try to stay away from political discussions, understanding the dynamics of capitalism and socialism is…
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See Part I here. “Capitalist economy is not and cannot be stationary,” posited Joseph Schumpeter. Capitalism is an evolutionary process, and the system is revolutionized from within through the constant introduction of new methods of production, new commodities, or new commercial opportunities. The desire to produce new items or old items in less expensive ways…
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I based my dissertation’s theoretical framework on Joseph Schumpeter’s seminal theory of economic development, which states that innovation is the stimulus for economic development and capital accumulation. Schumpeter was a German economist who introduced the early concepts of innovation and innovation-performance relationships. Schumpeter claimed that without economic development, the economy would settle into the circular…
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Creating new jobs is always an important topic, but more so today than in the recent past, given the high unemployment rate resulting from COVID-19. Martin Babinec’s book More Good Jobs: An Entrepreneur’s Action Plan to Create Change in Your Community could not have come out at a better time. Babinec is an entrepreneur and…
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With so much changing around us, it is not surprising that leadership should change as well. Even before the pandemic, Heather McGowan and Chris Shipley suggested that “new times call for a new approach to leadership” in their book The Adaptation Advantage: Let Go, Learn Fast, and Thrive in the Future of Work. The authors…
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In their book The Adaptation Advantage: Let Go, Learn Fast, and Thrive in the Future of Work, Heather McGowan and Chris Shipley argue that adaptability is one of the most critical skills to have in the future. While adaptability is often associated with individuals, it is also essential for teams. To build adaptive teams, the…
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In this post, I mentioned the skills individuals would need to master to adapt to the future of work. However, in their book, The Adaptation Advantage: Let Go, Learn Fast, and Thrive in the Future of Work, Heather McGowan and Chris Shipley argue that mastering those skills is not enough. The authors mention that we…
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I am continuing to explore ideas in Heather McGowan and Chris Shipley’s book The Adaptation Advantage: Let Go, Learn Fast, and Thrive in the Future of Work. One of the key messages in the book is that to navigate the future of work, we need to be adaptable and resilient, keeping ourselves free of the…
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Many people are afraid of the changes technology will bring. However, they often forget that we have been adapting to technological changes all our lives. By adopting new technologies, we have been augmenting our capabilities even if we did not realize it at the time. The most obvious examples are the introduction of computers in…
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We are at the beginning of the Fourth Industrial Revolution. But how did we get here? Heather McGowan and Chris Shipley, in their book The Adaptation Advantage: Let Go, Learn Fast, and Thrive in the Future of Work, take a look at that, starting from the First Industrial Revolution. The First Industrial Revolution, which lasted…
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