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Transforming Economic Development: Embracing Network Capitalism and Open Source Innovation

This document, presented by Ed Morrison in November 2006, explores the shift from traditional economic models to network capitalism and open-source development. It highlights the decline of conventional industries and the necessity for regions to adapt to new economic realities. Key points include the importance of transitioning from hierarchical structures to dynamic networks, promoting civic engagement, and fostering collaborative leadership. Morrison encourages the implementation of "strategic doing" to enhance community resilience and economic prosperity through active participation and alignment of resources.

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Transforming Economic Development: Embracing Network Capitalism and Open Source Innovation

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  1. Introduction to Network Capitalism and Open Source Economic Development: 10 Key Points • Ed Morrison • I-Open • Fairfield, IA • November, 2006

  2. Innovation in our grandfather’s economy: Move a lot of stuff

  3. Innovation in our grandfather’s economy

  4. Our metrics of success

  5. The problem is that nothing stands still... Steel declined, and the region’s leadership failed to see the transition The consequence has been a decline in population and relative incomes

  6. What happened to our grandfather’s economy?

  7. Costs collapsed

  8. The Internet exploded

  9. The Second Curve economy is emerging

  10. On the Second Curve, open networks and innovation drive the bus

  11. Connect First Curve assets to Second Curve opportunities

  12. We need to “connect and develop” “link and leverage”

  13. Key Point 1: We need to shift our thinking from hierarchies to networks There’s no top...no bottom...only links and nodes

  14. Key Point 2: Command and control does not work in the civic space We cannot yell our way to prosperity

  15. The economic development “ecosystem” in Charleston, SC

  16. Key Point 3: We need to connect and align our resources in the civic space Source: Ed Morrison

  17. The economic development “ecosystem” in Charleston, SC

  18. Key Point 4: We need continuous civic engagement... New leadership habits of collaboration Source: Ed Morrison, Laz Kozmon

  19. Key Point 5: People move in the direction of their conversations

  20. Key Point 6: We need open participation and leadership direction to guide our conversations

  21. Key Point 7: We need to develop the practice of “strategic doing” Source: Ed Morrison

  22. Key Point 8: Most regions are fragmented... People are still living in a Curve 1 world

  23. Key Point 9: We can use network maps, new leadership skills and “strategic doing” to strengthen our networks Source: Map of leadership network in Evansville, IN using software developed by Valdis Krebs and June Holley

  24. Key Point 10: To build regional collaboration, take the Shanghai perspective Our View Their View

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