How to restore National Prosperity?
One answer came from Michael Porter, a professor at Harvard Business School. He argued that the prosperity of a nation is the result of the competitive advantages of its regions and states. We should therefore nurture “clusters” of vigorous competitors, sophisticated customers, high-quality business inputs and supportive suppliers.
Many grand schemes followed: techno- parks, cities of knowledge, special economic zones and so forth. Most came with tax breaks and investment incentives to attract a critical mass of entrepreneurs to create the wealth.
Porter no longer believes that government alone can drive economic development. National prosperity - he says - has to be the outcome of a collaborative bottom-up process in which many individuals, companies and institutions take responsibility.
How can we foster such collaboration? Fortunately, the internet is proving to be a powerful medium for coordinating diverse teams and cultivating group efforts. The Yala does just this.