Putting America Back to Work

Bill George is, as many already know, a professor of management at HBS and the former chairman and CEO of Medtronic. He also wrote the 7 Lessons for Leading in Crisis. In short, he is one of those people who as the old E.F. Hutton commercial said "when Bill speaks, people listen." And well they should.

If you didn't see his piece in the past week's edition of BusinessWeek it is well worth the read. If you are short on time, the Cliff's Notes version is that he shared some ideas of what we should be doing as the country keeps moving toward rebuilding our economy and creating sustainable jobs.

Specifically, he argues that we should be focused on "innovation, entrepreneurship, small business and new company formation." which if you believe in history seems pretty hard to argue against.

To prime the pump he thinks that if tax credits for long-term investments were raised along with making the current tax credits for R&D permanent it would go a long way to creating jobs in the aforementioned areas.

Moreover, he points to renewable energy, information technology and healthcare as logical places to start which also may seem obvious to many but these too are hard to argue against.

When I had finished reading Bill's op ed piece and put BW down, I was reminded again of just how important innovation is and how it really is and has been the engine that drives job creation, and if we don't make a concerted effort to provide an environment that fosters innovation far more so than is currently the case, "Do you want fries with that?" could well become our epitath.