FUTURE WEALTH
Stan Davis & Christopher Meyer
Harvard Business School Press, 2000
LEARNING OBJECTIVES: After reading this book, the reader will understand the shift in wealth creation in the information age from real (producing and consuming goods) to financial (bearing, trading, and managing risks); the shift in wealth accumulation from earned income (salaries) to unearned income (investments); and the shift in control of wealth from institutions to individuals. This has applications to the skills of psychologists who work with businesses and organizations.
Davis and Meyer explore three features of the changing economy: risk as opportunity, not only as threat; the growing efficiency of financial markets for human capital; and the need for new forms of social capital. These three developments are combining in ways that will forever change how individuals, companies, and societies create, accumulate, control, and distribute wealth. They describe a world in the not-so-distant future in which we will trade everything of value, including human capital, talent, and other intangibles, in efficient markets. Companies will invest literally in their employees, not indirectly through training, and development, and treat business units as units of financial risk whose worth equals the quality of their intellectual capital. Future wealth will depend not merely on a healthy appetite for risk, but also on stronger social safety nets designed to balance new individual freedoms with commensurate order.
Stan Davis is an independent author and public speaker based in Boston and was a Senior Research Fellow at the Cap Gemini Ernst & Young Center for Business Innovation in Cambridge, Massachusetts. This is his tenth book. Some of the previous books include BLUR, FUTURE PERFECT, 2020 VISION, and THE MONSTER UNDER THE BED.
Christopher Meyer was a partner of Cap Gemini Ernst & Young. He is currently the CEO of The Monitor Networks (www.monitor.com) and on the board of Adventis Board of Advisors. He is a regular columnist in BUSINESS 2.0 and the co-author of BLUR.
5 CE credits; 169 pages
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