Mulgan: Crisis and Innovation

Geoff Mulgan gave a talk about crisis and innovation at TED Talks in 2009.

The former assistant of Tony Blair for public policy affairs believes that 2008 economic crisis signifies a great opportunity for rethinking capitalism.

Leaders and societies are expected to invest less in large corporations and networks and more, maybe 1% of GDP, in social entrepreneurship.

Young entrepreneurs should receive this money since they understand that coming generations seek businesses that add on relationships, empathy, compassion, and care, not consuming bare products and services.

A disciple of Michael Young, the founder of Open University, Mulgan argues that public policies have to undergo thorough experiments before turning consumption societies into sustainable ones.

Best innovations usually come from intelligent leaders who daily face social deprivation. Ideas that change lives are polished by practice, not literature.

Quoting Young, Mulgan concludes: “If you see a problem, you shouldn’t tell someone to act, you should act on it yourself”.

http://www.ted.com/talks/geoff_mulgan_post_crash_investing_in_a_better_world_1.html