Mr. Thurow had just published a book titled The Future of Capitalism: How Today's Economic Forces Shape Tomorrow's World, and that becomes the theme of this fascinating half-hour. WFB: "What would you say the future of capitalism is?" LT: "It's going to be different. I use the metaphor of punctuated equilibrium from biology, where you have 130 million years of dinosaurs, then you have a period, maybe as short as 10,000 years, which biologists call punctuated equilibrium, and out the other side comes mammals. The question is, What's coming out the other side? .. . Well, one thing is we're moving from basically an era of natural-resource-based industries to an era of manmade brainpower industries ..."--with all sorts of implications concerning who owns the brainpower and how that affects the workforce and standard of living in First versus Third World countries.
- Hoover ID: Program S1084
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