Thought of the Day
When the times are good you hire sales people when times are bad you hire R&D
The Economic historian Alexander Field concludes that the 1930s were the “most technologically progressive” decade of the twentieth century…..Although many see it as an easy target during budget cut-back’s, spending on research and development actually doubled over the course of the 1930s. More research and development labs were opened in the first four years of the Depression than in the entire preceding decade seventy-three compared to sixty-six. The number of people employed in research and development quadrupled, increasing from fewer than 7,000 in 1929 to nearly 28,000 by 1940, during a period of double-digit employment overall. Spending on R&D doubled over the course of the 1930s. from The Great Reset: How the Post-Crash Economy Will Change the Way We Live and Work, Richard Florida
Richard Florida explains that peaks and valleys are part of the lifecycle of any society as "obsolete and dysfunctional systems and practices" collapse, replaced by "the seeds of innovation and invention, of creativity and entrepreneurship." The First Great Reset occurred in the 1870s, the Second in the 1930s, and a Third is now developing.
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