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Mariasole's avatar
Brink Lindsey's avatar

FYI, I'm pretty sure Henry was writing about Rob Reich the Stanford political scientist, not Robert Reich the former labor secretary.

Stu Charlton's avatar

Thank you for this. It strikes me that the authors are conflating skill with power. Sales is a skill. Marketing is a skill. Innovation and entrepreneurship are skills. And if there's a few practices that Leftists absolutely detest and refuse to even acknowledge as disciplines that are worthy of study, it is sales, marketing, innovation, and entrepreneurship.

These, ironically, are the core functions of a business, and the essence of what makes capitalism work. Instead the usual focus is on investors, money, liquidity, and consumption which kind of misses the whole point of a business: to create a customer. These are practices that economists usually ignore in their models and writings because they assume rational actors and commodities. They ignore the lifecycle of products & services: from genesis/startup, custom builds, through productization, and eventual commoditization, as knowledge grows and costs & risk fall. These topics have mostly been focused on by a motley crew of writers that aren't exactly considered titans of economic theory: Schumpeter, Drucker, maybe a bit of Paul Romer in recent decades, and yeah, techbros. Though I don't think the techbros all have great insights here either as lately in particular they seem to have largely gone at least somewhat insane.

And so these skills become the equivalent of magical powers, rather than a means to wield meagre power effectively and thus gain more power. Anyone that's played a dungeon crawler knows this, or Sid Meier's Civilization and other empire building board games with tech trees like Twilight Imperium or Eclipse. "To see what is in front of one's nose requires a constant struggle" :-)

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