Attention Economy


Saturday, April 30, 2016

Bloomberg’s Excellent Commencement Address

Michael Bloomberg’s 2016 Commencement Address at the University of Michigan:
A few highlights from the speech –
“The most useful knowledge that you leave here with today has nothing to do with your major. It’s about how to study, cooperate, listen carefully, think critically and resolve conflicts through reason. Those are the most important skills in the working world, and it’s why colleges have always exposed students to challenging and uncomfortable ideas.
The fact that some university boards and administrations now bow to pressure and shield students from these ideas through “safe spaces,” “code words” and “trigger warnings” is, in my view, a terrible mistake.
Think about the global economy. For the first time in human history, the majority of people in the developed world are being asked to make a living with their minds, rather than their muscles. For 3,000 years, humankind had an economy based on farming: Till the soil, plant the seed, harvest the crop. It was hard to do, but fairly easy to learn. Then, for 300 years, we had an economy based on industry: Mold the parts, turn the crank, assemble the product. This was hard to do, but also fairly easy to learn.
Now, we have an economy based on information: Acquire the knowledge, apply the analytics and use your creativity. This is hard to do and hard to learn, and even once you’ve mastered it, you have to start learning all over again, pretty much every day.
As durable as the American system of government has been, democracy is fragile -- and demagogues are always lurking. Stopping them starts with placing a premium on open minds, voting, and demanding that politicians offer practical solutions, not scapegoats or pie-in-the-sky promises.”