Report to the People
New Economy Inquiry
In the dark days of the 19th Century, mill and factory workers were sacked if they were able to tell the time. Workers’ knowledge was seen as a threat to the company.
Now, of course, we know that the opposite is true. Knowledgeable staff are now recognised as one of a company’s most valuable assets.
This complete change in attitude is the essence of the New Economy: Not measuring a company’s value in terms of its plant and machinery, but in terms of the skill and expertise of the employees.
But, while the "New Economy" may sound exciting, what exactly does it mean? Is it not simply a boardroom buzzword? And what relevance does it have for those of us who are not dotcom millionaires?
It is to address questions such as these that the Parliament’s Enterprise & Lifelong Learning committee, of which I am a member, is currently carrying out an inquiry into the New Economy and how it will affect our daily lives. And last week, together with fellow committee member Annabel Goldie, I visited a number of the more remote Scottish communities to see first hand how they are taking adapting to this change. After an albeit brief visit, I was left in no doubt that this "quiet revolution" has the potential to transform these areas.
I visited a tele-worker in Stornoway receiving digitally dictated case notes from a London barrister, complete with the sound of the capital’s traffic. I also saw a firm who provide "virtual shop assistants" to help potential online shoppers buy exactly what they want over the web. As they say, the New Economy lets them "live local and work global."
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