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Showing posts from July, 2010

Jobs = income = demand = profits. Not vice versa.

Yesterday I attended a leadership meeting for the Merage School of Business at the University of California Irvine, where I serve as Vice Chair of the Dean's Advisory Board. At the meeting Paul Merage, whose gift and vision has helped propel the school's progress, reiterated his vision that the U.S. is in the midst of its third economic epoch. The current Innovation Economy is radically transforming our country from its earlier roots in its industrial and agrarian based economies. As Paul points out, our country faces twin challenges if it hopes to succeed in this economy: we need a new generation of executives to lead in a global innovation economy and we also need a well educated work force to ensure these innovation-driven jobs stay at home. This same theme is put forward in a must-read article in Business Week by Andy Grove , former CEO of Intel. The legendary Silicon Valley leader makes a compelling case for why we need to fix America through jobs and not Wall Stre