Evolution of Economics

Verna Alle

Economic Theory free-fall – there are no good models of the knowledge economy. All our ideas are based on product and commodity

If we create new ideas and share, all people come away enriched.

We have an opportunity to reconcile economy with fabric of life.

Drucker: The Corporation as we know it is unlikely to survive the next 25 years..legally and financially, yes, but not structurally or economically.

Zuboff: value resides in individuals, networks infinitely configurable.

Transparency – 360 degrees – to stakeholders of organizations  – Reputation is everything.

XBRL – data tagging of business data

If revenue service can look into my company and see all my data, why need an audit firm?

People are not our greatest asset  – on balance sheet they are an expense – which is why it is so hard to fund people programs. Knowledge economy  – what if this wasn’t a lie– it was the way the balance sheet worked – allows a different way of looking.

If you want to see how your company is moving you have to look at non-traditional and leading indicators, intangibles – but they’re real.

They are real assets that accumulate as a result of specific activities. They can be traded (I’ll help you with excel, you help me with powerpoint).  THey are deliverable and build relationships. This would be called ‘barter’ in economic terms.

If you look at an organization as a value network – intelligent pattern of an organization – an autopoietic network. Like a living system.

Questions about how organizations realize value – how do we realize created and outputed value?

Huge amount of stuff to think about. Difficult to blog. Hope she puts up her slides.