Comments on: It’s Human Capital, Stupid http://www.smartcitymemphis.com/2012/10/its-human-capital-stupid/ Fri, 24 May 2013 09:20:32 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Anonymous http://www.smartcitymemphis.com/2012/10/its-human-capital-stupid/comment-page-1/#comment-31404 Anonymous Tue, 23 Oct 2012 20:44:55 +0000 http://www.smartcitymemphis.com/?p=11304#comment-31404 I could not agree more with SCM's post and RBUD's comments. But there’s the rub: SCM can see it, RBUD can see it, I can see it (and I am sure a few other regulars here can see it as well). In fact picture clarity has been crystal for over a decade. We know what to do, we just are not doing it in part because it is “hard” (the near term costs are steep). In the city’s early years, a proposed canal that would have provided cheap water power to for industrial operations to process local commodities and transform them into more valuable finished products was voted down in a local election. The decision was due in part to the financial risk the city would incur with a less definite near term return on the investment. The decision to pursue “distribution” as an economic development tool was based in part on the idea that manufacturers would see the benefit of relocating their operations closer to their logistics hubs and because workforce development would take a far larger investment with a longer (and less likely) payback period. Being competitive is hard work which requires taking risks and making long term investments. It also requires accepting that such decisions will likely result in some near term costs (such as trading population size for quality in Pittsburgh or a metro-wide sales tax increase to pay for certain public projects in Oklahoma City). I could not agree more with SCM’s post and RBUD’s comments. But there’s the rub: SCM can see it, RBUD can see it, I can see it (and I am sure a few other regulars here can see it as well). In fact picture clarity has been crystal for over a decade. We know what to do, we just are not doing it in part because it is “hard” (the near term costs are steep).

In the city’s early years, a proposed canal that would have provided cheap water power to for industrial operations to process local commodities and transform them into more valuable finished products was voted down in a local election. The decision was due in part to the financial risk the city would incur with a less definite near term return on the investment. The decision to pursue “distribution” as an economic development tool was based in part on the idea that manufacturers would see the benefit of relocating their operations closer to their logistics hubs and because workforce development would take a far larger investment with a longer (and less likely) payback period.

Being competitive is hard work which requires taking risks and making long term investments. It also requires accepting that such decisions will likely result in some near term costs (such as trading population size for quality in Pittsburgh or a metro-wide sales tax increase to pay for certain public projects in Oklahoma City).

]]> By: RBUD http://www.smartcitymemphis.com/2012/10/its-human-capital-stupid/comment-page-1/#comment-31400 RBUD Tue, 23 Oct 2012 16:36:21 +0000 http://www.smartcitymemphis.com/?p=11304#comment-31400 Given the state of the overall economy, rather than seeking employment in established businesses, many young graduates are starting their own. Likewise, older workers laid off from positions they've held for decades have trouble finding employment that suits their experience and skill. Memphis could be a laboratory for entrepreneurship. The entire community could become an incubator that draws talent seeking both enormous challenges and enormous opportunities simply by throwing our doors open to anyone with a new idea for tackling the social, economic, physical, and structural problems we posses in such abundance. "If you have an idea, come to Memphis. We'll help you make it happen." First, however, we must admit that we are failing and that we must change or we will die. That will be hard. Change is always difficult. Nevertheless, to survive, we need new solutions. We are trapped in the definition of insanity; doing the same thing the same way and expecting a different result. Instead, we could choose to aggressively sell Memphis to would-be entrepreneurs as a place of wide open opportunities that not only welcomes, but rewards, supports, and celebrates innovation, energy, and new ideas. This approach may very well require that some now in positions of power or authority learn to lead, follow, or get out of the way, particularly the latter. Inevitably, control will have to shift, and that may result in a tectonic shock for the Memphis community. Our business licenses are down and our birthrate is up. The "water" that threatens us rises daily. If we are to survive, let alone thrive, it's time to actively recruit and support a new generation of bold, creative, courageous leaders motivated by tackling the challenges of turning around a failing system. Given the state of the overall economy, rather than seeking employment in established businesses, many young graduates are starting their own. Likewise, older workers laid off from positions they’ve held for decades have trouble finding employment that suits their experience and skill.

Memphis could be a laboratory for entrepreneurship. The entire community could become an incubator that draws talent seeking both enormous challenges and enormous opportunities simply by throwing our doors open to anyone with a new idea for tackling the social, economic, physical, and structural problems we posses in such abundance. “If you have an idea, come to Memphis. We’ll help you make it happen.”

First, however, we must admit that we are failing and that we must change or we will die. That will be hard. Change is always difficult. Nevertheless, to survive, we need new solutions. We are trapped in the definition of insanity; doing the same thing the same way and expecting a different result.

Instead, we could choose to aggressively sell Memphis to would-be entrepreneurs as a place of wide open opportunities that not only welcomes, but rewards, supports, and celebrates innovation, energy, and new ideas. This approach may very well require that some now in positions of power or authority learn to lead, follow, or get out of the way, particularly the latter. Inevitably, control will have to shift, and that may result in a tectonic shock for the Memphis community.

Our business licenses are down and our birthrate is up. The “water” that threatens us rises daily. If we are to survive, let alone thrive, it’s time to actively recruit and support a new generation of bold, creative, courageous leaders motivated by tackling the challenges of turning around a failing system.

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