The primitive quasi intellectual notion that economics is simply a matter of theoretical consideration first; empirical applicable second is demonstrative of all that is wrong with the world of fiscal and monetary oversight and governmental financial planning. Armchair economists sitting in a university office regurgitating textbook theory with their own android twist spawn academic protégés with theoretical comprehension without the strategic implementation comprehension needed to actually get involved with true regional stimulus or prosperity economic strategy.
The technical endeavor of diagnosing an economy or struggling corporation from the perspective of evaluating for holes and weaknesses then to plug this region or entity with solution based strategy must be done by one in the trenches as opposed to the climate controlled haven of a university classroom. To be out and about submerged, waist deep in the sludge of implementation woes stemming from a population's primal psychological inhibitors that reject the steps to economic stimulus and taxation or a corporation's localized growth stunted by lack of qualified executives due to ethnic and racial migration introducing the necessity for globalization yet held back by a fearful board of directors and 'street wise' challenged C level management.
The necessity for strategy over theory and response verses reactionary is a concept that can only be learned and cultivated with grassroots, 'in your face' and 'on the ground' economics. Most functional economists with actual 'know-how' become consultants. The best consultants apply track record and personally documented case history to the environment of the economic recovery or corporate turnaround taking into consideration demographic, proximity, historical benchmarks within the niche genre of practice and region, global perspective and a full arsenal of tactical concepts ready for application.
The archaic and altogether ludicrous idea that a university instructor and/or self-proclaimed scholar has the wherewithal to speak from a position of authority on solutions based economic rebound or corporate scalability/troubleshooting came to a head as a joke in the 70's and is now an insult to those on the front lines. Expert panels on economics composed of Ph.D.'s and professors instantly lose credibility to those with strategic assimilation and applications comprehension as historical calculation and theory based concepts are no longer relevant.
Economic 'Think Tanks' typically offer an all-encompassing approach using both the 'self-proclaimed' scholarly and the strategist to fill the void of public perception. track record, empirical case history, strategic implementation, global tactical application experience and a distant last, theoretical comprehension is what makes economy move and thrive as, now more than ever, we are seeing a results driven necessity as opposed to the armchair opinion based university thinker without applicable understanding of the laws that govern the realities of today's Zeitgeist economic movement.
James Scott is the CEO of Princeton Corporate Solutions, a corporate globalization and political strategies firm, PCS offers a unique blend of think tank, corporate and governmental communication strategies to expedite the facilitation of long lasting relationship building in these necessary sectors. http://princetoncorporatesolutions.com
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