Steve Forbes, CEO and Editor-in-Chief at Forbes Media, spoke to bloggers today about his new book, "How Capitalism Will Save Us". The book explains Steve's theory that creativity and innovation are the engines of capitalism rather than greed and government intervention. I found this to be good news for us since women are both creative and innovative! The book also shows us how history can help our understanding of the issues, and Steve gives an inside view of the impact government policies have had on past recessions. In response to my question whether today is the right time for women who want to build their own fortune to start new ventures, Steve mentioned how high technology gives women more flexibility and creates more choices for them. Steve also said economic turmoil always creates opportunities, and cited examples of great companies coming out of economic busts of the past. He spoke of varioius entrepreneurs who had vision, and were the first to see potential in their industries despite the poor economic climate. Through past "economic earthquakes", these business visionaries saw "how the landscape had changed, learned to look at things differently" and created new companies and new fortunes. And while it is difficult to risk your own capital in economic turmoil, "you need to survive the storm to reach new and glorious ports!". According to Steve, most new jobs are created by businesses less than five years old - making it all the more important for women to keep on their record pace of starting new companies. As he says on page 292 - "Wealth creation is about innovation, not the supply of money"!
I was particularly interested in his view that media is suffering from a double blow, the severe recession and the profound changes caused by the web. It is clear from both the book and Steve's remarks that there is no easy answer, but that a quick recovery depends not only on good government policy, but on all of us searching for those new and glorious ports!
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