published by William J. Holstein on 27 October 2014 - 11:23am
I'm reading a lot of blather these days about how fast the Chinese economy is growing, and can continue to grow, and about how soon its total size will surpass that of the United States. These are the wrong questions to be asking. The Chinese, with four times as many people as the United States, should become the largest economy at some point. The real question is whether they can compete head to head against our most sophisticated industries such as semiconductors.
published by William J. Holstein on 10 October 2014 - 10:07am
One of the drums that I keep beating is that we Americans need to do a better job of commercializing the ideas that come out of what I call our "idea factories"--our universities, research institutes, and weapons labs. We blew it with the transistor, for example, and the Japanese took the idea and created the transistor radio industry. Remember the transistor radio? Now here is another example where we had some fundamental breakthroughs in technology but the economic model, i.e. the old RCA, collapsed, causing the technology to flow elsewhere.
published by William J. Holstein on 7 October 2014 - 3:44pm
Give me a break. Stuart Hoffman, chief economist at PNC Financial Services Group, was quoted as saying this after the latest job numbers were reported: "I think we've finally reached the promised land of a self-sustaining, self-reinforcing economic recovery."
It sure doesn't feel like the promised land to millions of Americans who can't find well-paying jobs. Economists keep trying to peddle these grand pronouncements about a return to healthy economic conditions. I wonder what's in the water they are drinking.
published by William J. Holstein on 24 September 2014 - 4:26pm
It was terribly civil of UCLA to come out and answer the questions that I raised in a blog last week. According to this article in the Wall Street Journal, it looks to me like it is a sound management structure and philosophy. I have great hopes that this model spreads throughout the United States. I've long argued that universities need to do a better job of nurturing the entire ecosystem of innovation and commercialization, not just allow an idea to be licensed:
published by William J. Holstein on 19 September 2014 - 9:47am
I know everyone is suffering brain fatigue talking about big concepts like globalization, but I was struck by how Eduardo Porter of the Times just didn't get it right in a commentary this week. So I have poured it in below and annotated it IN ALL CAPS....