Today's Bloomberg opinion piece on GOOG points out the increasing power (and earnings potential of the intellect). Whether with biotech, Internet, financial engineering, patent trolls -- we are able to leverage intellect for much greater purpose and advantage than in the past.
But the financial crisis -- I would argue largely created by smart people that convinced others that they could control/manage mortgage and other derivatives [when they could not, and some of them knew it] -- is the big one. But there are many examples -- MSFT, GOOG, Facebook, Apple market dominance. GS [too much] leadership. The riches and recent abuses of hedge funds -- which seem to foster risk taking. Expert networks, even leadership at McKinsey.
There were times when the intellectual class were a contrast to the warlord class (who would gain great advantage with the use of force, and modest moral imperative). But now it would seem that the intellects are conquering with little moral consideration.
Most families and countries have placed the intellect on a pedestal. It would seem that we have forgotten that the intellectuals are also supposed to contribute a level of philosophical and moral suasion -- necessary to provide the checks and balance, and properly channel the General Will.
I would conjecture that many warlords have become business and other leaders -- but they are increasingly losing control to the intellects.
We seem to be out of balance.
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