Thinks 435

Sebastian Mallaby: “If there is one insight venture capitalists share, it’s that ignoring signs of exponential progress is worse than betting on them and being wrong.”

Yuvay Meyers Ferguson: “The Great Resignation is misleading. Though many people have indeed been resigning from their jobs, it is not because they are leaving the workforce. It is because they found, or are looking for, another job. This is why a better term might actually be the Great Transition, because the majority of people who are part of this trend are leaving jobs that don’t work for them anymore, for whatever combination of reasons, and looking for ones that do. Given this reality, the current period can be an opportunity. For companies who are losing their employees, it is an opportunity for course correction. For other companies, it is an opportunity to attract new talent…Organizations that want to stop losing talented workers or, conversely, who want to attract those who have already quit other jobs, must remember and practice these principles: Make people feel like they are seen and valued as human beings, acknowledge that they shouldn’t have to struggle for their basic needs by paying them more, and strive to be more authentic. Organizations that are genuinely able to do this will find that what is the Great Resignation for other companies will be, for them, the Great Recruitment.”

Thomas Hazlett on Ludwig Erhard’s big reform in post-war Germany: “The lifting of price controls did not harm the populace but instead unleashed hope. “The spirit of the country changed overnight,” wrote American economist Henry Wallich. French scholars Jacques Rueff and Andre Piettre described the result with awe: “Shops filled up with goods from one day to the next; the factories began to work. On the eve of currency reform the Germans were aimlessly wandering about their towns in search of a few additional items of food. A day later they thought of nothing but producing them. One day apathy was mirrored on their faces while on the next a whole nation looked hopefully into the future.” Real prices replaced “lying prices,” enabling social coordination. Suppliers and demanders soon reunited. Industrial output advanced 50 percent in one year.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.