To succeed in the innovation era, says Daron Acemoglu, a prominent M.I.T. economist, we will need, above all, to build a new set of institutions, something like the societal equivalent of those office parks in Sunnyvale, that help us stay flexible in the midst of turbulent lives. We’ll need modern insurance and financial products that encourage us to pursue entrepreneurial ideas or the education needed for a career change. And we’ll need incentives that encourage us to take these risks; we won’t take them if we fear paying the full cost of failure.
Posted on: Sun, 16 Nov 2014 22:37:30 +0000
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