When the financial sector grows faster than the real economy, it damages overall productivity and diverts business investment away from serving customers.
About Hunter Hastings
Hi, Hunter Hastings here - I'm an economist by education, a marketer in my professional track, a venture capitalist in my current business life, an Individualist in philosophy, and a passionate supporter of entrepreneurship in whatever form I can practice it, support it and advance it.
Innovation in organization is at least equal in importance to technological innovation and product / service innovation. It tends to get less attention, which is a great opportunity for imaginative entrepreneurs to implement change for competitive advantage.
The task of creating new customer benefits may feel overwhelming. It’s a tough ask for any business innovation team. But if you turn the telescope around and look for barriers to value you can remove, you might find that subtraction is easier that creation, and generates just as much new customer value.
Is there any industry a passionate entrepreneur can’t improve and enhance by elevating the customer experience? The answer is clearly no. Economics For Business talks to Jeff Arnold, who finds insurance fun, exciting, and a source of inspiration, and who is advancing profitably towards the new future he’s imagining, where buying insurance is so enjoyable that customers will stop shopping on price and clamor for the new experience he is designing.
What’s the purpose of an economy? It’s to generate prosperity for the people who participate in it. Prosperity is defined by value -individuals’ feeling that life is getting better and more comfortable with better future prospects. GDP is a diversion that has nothing to do with all that.
. We discuss markets with Anthony J. Evans, a business school professor who teaches that all businesspeople must become economists.