When Talent Started Driving Economic Growth

Harvard Business Review

The mid-1970s was an inflection point in American history: the moment when talent became recognized as the engine of economic growth. In 1976, the famous LBO firm KKR was formed and starting charging its clients 2% of assets under management and 20% of the upside they created for their clients, opening the door to massive wealth accumulation for high-flying fund management talent. I came out of a standard Keynesian economics education at Harvard College in 1979.

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