247. The knowledge economy, or knowledge capitalism

We live in a knowledge economy. This means that knowledge, know how, technology, are the way for individuals and organisations to establish competitive advantage. Some call it knowledge capitalism. The moniker is apt, more so than most using it realise, because there is another aspect, which we often ignore, but also determines outcomes. Talking last night to the parents of a couple of teenagers who have just joined the private school system from state school, a message was clear. Private school confers you a huge advantage, not in the quality of content taught, where public colleges may be adequately competing, not even on the facilities offered to students, superior in private institutions, but not so critical to outcomes, but mainly in the culture of achievement and aspiration that private institutions surround students with and in the exceptional networks of future useful contacts they help them develop. Parents pay deer for these advantages, but the return on investment is high 

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