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Law of Accelerating Cost Executive Summary: America’s economic growth has been in decline for decades and some feel nothing can be done. The “Law of Accelerating Cost” (LAC) postulates that to maintain economic growth as a constant percent of GDP, exponentially more R&D resources over time are required. We have not been making these investments since the 1970s. These resources can be effectively obtained in three ways: Increased federal and.. Read More
“Do you have a value-creation playbook?” “No.” The Drucker Forum, led by Richard Straub, is one of the world’s most important conferences on innovation and entrepreneurship. It honours Peter Drucker, the genius who laid the foundations for modern management. Each November it is held in Vienna, Austria where Peter Drucker was born in 1909. Many of the world’s thought leaders and practitioners are there to share progress on these increasingly important.. Read More
A Defining Convergence This video is of the President’s Distinguished Lecture I gave at Stevens University on October 5th 2016. It is often said that the key to innovative success is to fail fast. That is wrong. It is also misleading and dispiriting. The key to innovative success is to learn, search, discover, and create fast. Value creation is a branch of the learning sciences. Graduates are entering a turbulent.. Read More
Boiled Frogs The world is entering a turbulent and demanding economic period. Over the past few decades job growth and prosperity have dramatically slowed in America and many other developed countries, including Japan and the European Union. In America GDP growth has declined from 4% in the nineteen nineties to under 2% per year. Larry Summers has referred to this as the “new normal.”
Can We Agree on the Basics? I was recently asked to define a number of basic innovation terms. Below are some of the most important. I would greatly appreciate your feedback. I will address the issues and thoughts you provide in future posts.