A Quote by Andrew Carnegie
The only irreplaceable capital an organization possesses is the knowledge and ability of its people. The productivity of that capital depends on how effectively people share their competence with those who can use it.
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I don't like the idea of capitalism anyway. Because it's not capital we are talking about; it's knowledge and creating well-being. Because I mean, that gets people on the wrong track when it's capital and how we allocate capital - no. How do we create the Republic of Science in America? How do we have a system of mutual benefits where people succeed by helping others improve their lives? So I don't like that at all.
If, for example, each of us had the same share of capital in the national total capital, then if the share of capital goes up it's not a problem, because you get as much as I do. The problem is that capital in capitalist countries is very heavily concentrated, especially financial capital. So then if the share of income from that source goes up, that actually exacerbates inequality.
Productivity depends on many factors, including our workforce's knowledge and skills and the quantity and quality of the capital, technology, and infrastructure that they have to work with.
A company's success no longer depends primarily on its ability to raise investment capital. Success depends on the ability of its people to learn together and produce new ideas.
I don't believe in capital per se or a priori but I do occasionally believe in personal capital vis-a- vis psychic energy exchange. I use the word "capital" only poetically.
What being among the 'right people' entails is the possession of human capital, rather than organizational capital: an individual reputation, portable skills, and network connections. Career responsibility is squarely in the hands of individuals, a function of their knowledge and networks. Transferable knowledge is more important to a career than firm-specific knowledge.
The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations.
Experience of life (not of books) is the only capital usable in such a book as you have attempted; one can make no judicious use of this capital while it is new.
Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks it own accumulation: knowledge thus accelerates its own advance. Each generation, therefore, to deserve comparison with its predecessor, is bound to add much more largely to the common stock than that which it immediately succeeds.
Companies are returning a lot of money to shareholders through dividends and buybacks. And a lot of people say that's not a good use of capital. I think that's normal reallocation of capital.
Which would you rather have, capital lined up on your borders, trying to get into your country or trying to get out of your country? We are the capital magnet of this planet and we are the savior for not only people, for not only freedom, but also for capital.
The ability of so many people to live comfortably with the idea of capital punishment is perhaps a clue to how so many Europeans were able to live with the idea of the Holocaust: Once you accept the notion that the state has the right to kill someone and the right to define what is a capital crime, aren't you halfway there?
Only by providing leading-edge human capital and knowledge capital can American continue to maintain a high standard of living, including providing national security for its citizens.
We are now heading down a centuries-long path toward increasing the productivity of our natural capital - the resource systems upon which we depend to live - instead of our human capital.
We have a legal system, and this is not something that happens all the time. We have capital punishment. America has capital punishment. Iran has capital punishment. Iran hangs people and leaves their bodies hanging on cranes. Iran put to death more than a thousand people last year. I don't see EU reporting on it.
Books constitute capital. A library book lasts as long as a house, for hundreds of years. It is not, then, an article of mere consumption but fairly of capital, and often in the case of professional men, setting out in life, it is their only capital.
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