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May 12, 2008


Chris Ward

It's also a question of 'what you reward' as a society.

In the UK at the moment, the guy who runs the Post Office ... a loss-making public sector business ... is being paid the equivalent of $6M per year. And the guy drafted in to rescue Northern Rock ... a failing mortgage corporation which many say should have been allowed to go bankrupt ... will also be handsomely rewarded. And those are salaries; succeed or fail, they will be paid by taxpayer funds.

These rewards are typically not available to the people you need to work in all the 'important new areas' you refer to above. So can you expect the brightest and best of the new generation ... those you need ... to choose "Research and Education" over "Financial Services" as a career direction ?

Perhaps the solid political stability we have now as a consequence of the end of the cold war has something to do with it. You can have confidence that your investments will not be wiped out by the concerns we had in the 1950's, 1960's, and 1970's.

I think we may need a society-wide rebalancing, in the Western world; giving priority to the 'science and engineering', and shifting away from 'business as usual', 'financial services' and 'big government' payment by the number of people in your empire.

I'm not sure how to achieve it.

immo leuven

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Elizabeth Hanford Dole began her career in public service at the age of 29, when she began working for the Department of Health, Education and Welfare during the Lyndon B. Johnson administration and for the Office of Consumer Affairs. She was promoted under the Nixon administration to executive director of the President’ s Committee for Consumer Interests and later to the Federal Trade Commission. She is the only woman to have served as cabinet secretary of two federal departments under two presidents...

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