When Talent Started Driving Economic Growth
Harvard Business Review
SEPTEMBER 30, 2014
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.