In the United States rages on, the Coronavirus is even more devastating than in Europe. Meanwhile, more Americans died on the Covid-19 in the Vietnam war. At the same time, the labour market experienced the worst crash in the history of the country. The pandemic is for the proud Nation to a Trauma.
This historical turning point, Albert Wenger just experienced first-hand. The German-American business man living for more than 20 years in the United States, is one of the most well-known investors and venture capitalists. If Harvard does not analyze graduate just rates, ratios and balance sheets, he thought about the meaning of life, and economic activity. One of Wenger’s main theses: “The time of the capital is over. We see more clearly than ever before that our capitalist gets System to its limits.“
“Virus came out of nowhere. It has warned us that”
The Coronavirus does not come from Nothing, says Wenger on the DLD Sync, the virtual offer of the digital conference DLD. “It warns us with SARS and MERS, two Times pre. Nevertheless, we were not prepared for the pandemic at all.“ How could this happen?
Wenger argues that capitalism is to blame-bearing in mind that the world is blindly caught up in this global disaster. “Capitalism was extremely successful. But he does not mean that we give the big issues such as climate change or preparing for a pandemic, the attention that they need.“ The great strength of capitalism, so Wenger is also his greatest weakness: “It is based on the on the markets set prices.” FOCUS Online / Shuang Liu
the logic of the market economy is not slowing Innovation
The basic problem: the logic of The market economy was functioning in many areas of our life, that simply argues Isabell Welpe, head of the chair for business administration – strategy and organization at TU Munich. “You can shovel pay a Person to work more, for example, more snow. But you can pay someone else to do it, to think creatively, or to have smarter ideas,“ said puppy.
especially in research, health and education, Mr ash is an artificial policy-generated competition of services, the simply non-market economic aspects are measurable. A loss of a wealth of ideas and Innovation is the result. Puppy pleads to leave, therefore, to differentiate better what are the social tasks of market mechanisms to solve, and which are not. “A hospital or a University, for example, can not be purely focused on Profit.”
More DLD Sync Talks:
- “Have a economy of over optimisation” Oxford Economist calls for major Changes
- Tech-expert predicts Amazon will revolutionize health care, according to Corona
ideas instead of capital: we are entering an new era?
the current crisis and The fact that almost the whole world is more or less stumbling unprepared into it, was a Wake-up call, is convinced Wenger. The crisis is an extraordinary opportunity to reflect on what we need in our life and what we can do without.“ So far, 80 percent of all human activity are happening on the market. Only 20 percent of it go to non-market related things such as art, science, or study of the personal sense of life,“ says the Star Investor. The vast majority of people it is only about two things: making money and spend money.“
Albert Wenger’s Vision is nothing Less than a new era. In his book “the World after Capital” outlines the German native, a world in which capital has lost its importance as a Central factor for economic growth. “I think in 50 or 100 years, we will use 80 percent of our human attention on ideas and Innovation. We are living in an age of knowledge,“ predicts Wenger. The chances for these changes to be in the current crisis, as well as never.
The next DLD Sync with the British author Margaret Heffernan and Niki Kolev , Managing Director of the Co-Working provider We Work, will take place on 26. May at 16.00 instead. You can register here. The world is better than your bad news – FOCUS Online provides you every Friday with the best stories from the field perspectives. Subscribe here for free Newsletter:
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