Good And Bad Inequality

Rodrik-e1357149035508Dr. Dani Rodrik is the Rafiq Hariri Professor of International Political Economy at the John F. Kennedy School of Government, Harvard University. He has published widely in the areas of international economics, economic development, and political economy.

In the pantheon of economic theories, the tradeoff between equality and efficiency used to occupy an exalted position. The American economist Arthur Okun, whose classic work on the topic is called Equality and Efficiency: The Big Tradeoff, believed that public policies revolved around managing the tension between those two values. As recently as 2007, when New York University economist Thomas Sargent, addressing the graduating class at the University of California, Berkeley, summarized the wisdom of economics in 12 short principles, the tradeoff was among them.

The belief that boosting equality requires sacrificing economic efficiency is grounded in one of the most cherished ideas in economics: incentives. Firms and individuals need the prospect of higher incomes to save, invest, work hard, and innovate. If taxation of profitable firms and rich households blunts those prospects, the result is reduced effort and lower economic growth. Communist countries, where egalitarian experiments led to economic disaster, long served as “Exhibit A” in the case against redistributive policies.

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STRATEGIC STORYTELLING: THE SECRET SAUCE OF FUNDRAISING

MarangosDr. Frank Marangos is CEO and Founder of OINOS Educational Consulting. He received a Doctors Degree in Adult Education (Ed.D.) from NOVA Southeastern University (Ft. Lauderdale, FL) and a Doctorate in Ministry and Childhood Education (D.Min.) from Southern Methodist University (Dallas, TX

“In any situation that calls for you to persuade, convince or manage someone or a group of people to do something, the ability to tell a purposeful story will be your secret sauce.”

Peter Guber (CEO, Mandalay Entertainment)

Successful fundraising is the result of strategic storytelling. In fact, the realization of grand institutional visions are closely tied to the degree to which their Cases for Support have been persuasively voiced. Rather than rely on slick videos, interactive websites, and glossy brochures to do so, effective nonprofit leaders realize the importance of utilizing the alchemy of thoughtful narrations to passionately express the philanthropic stories associated with their respective concerns. Only when the chronicle of their distinctive profile is genuinely advanced in a personalized fashion can agencies of humanitarian provision effectively engage the hearts of potential donors and thereby elicit the generous financial contributions required to realize their noble aspirations.

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You can’t predict the future; you have to invent it. What are your views?

DRJOHN2Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Distinguished Visiting Fellow at the Institute of Advanced Studies in the Humanities, University of Edinburgh, Scotland, publisher of www.GavdosPress.com and Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation.

The Leader-Manager’s role requires a clear vision to be successful. There is a constant need to challenge the status quo, but there is also the need to maintain a connection to the Next Worthwhile Goal. The key and daring thing is to know when to let go of the present and move to the future. If we understand the industries and markets we operate in, perhaps we do not know the future, but our knowledge and experience should help us to define within the context that we can design our strategy(ies) to move us forward successfully.

Invent the future? I think that is what exceptional leader-mangers do. Indeed more often than not such leaders create-invent the future.

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