Good clusters offer their inhabitants two things: knowledge and capital.
America's export boom is likely to be led by firms that are already global in scale and by sectors in which America has a clear competitive advantage: sophisticated, knowledge-intensive capital goods like microprocessors, and high-end services like engineering, oil-production services and even (witness KPF) architecture.
Layer upon layer of success paved the capital and knowledge bedrock for repeating wins, and regulatory change in the late 1970s enabled the advent and availability of risk capital.
But that could change as new networks of knowledge, innovation and capital meet the older values of work, trust and modestly priced living standards.
But that could change with new networks of knowledge, innovation and capital meeting the older values of work ethic, trust and modestly priced living standards.
At the same time, these rules should recognize and facilitate the enormous potential of the crowd to inject capital and knowledge into early stage companies acrossAmerica.
The levels of poverty and inequality in a world rich in knowledge, technology and capital is the biggest moral issue the world faces and the biggest threat to the safety and security of the world.
But in the advanced economies, where internal markets are big enough to be fairly competitive, barriers to flows of trade, capital and knowledge have long been lower, and technology is at its cutting edge, there is less to be gained.
Many Japanese SMEs have the technology and knowledge base, yet are capital-poor with exorbitantly high labor and materials operations costs relative to Chinese firms.
Growth in knowledge-based industries requires investment in knowledge as well as in physical capital.
Mr Gove argued that it was poorer families that had the most to gain as "the accumulation of cultural capital - the acquisition of knowledge - is the key to social mobility".
It signed a memorandum of understanding with GE Capital recently, one person with knowledge of the deal said.
Locals may not bring much capital or technical expertise, but their knowledge and networks are invaluable.
As knowledge and intellectual property become more important than physical capital, businesses feel compelled to protect that intellectual capital by taking extraordinary steps.
For one prominent New York venture capital firm, part of tapping that knowledge base means working the front lines of social change and public policy.
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The ultimate success of a venture capital firm rests with the talents, skills and knowledge of its partners as evidenced in their investment prowess.
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But once science entered the picture, and engineers effectively took control of deep knowledge and forked off a community largely allied with owners of capital, the days of the residual artisan class were numbered.
This comes in many forms, such as problem-solving creativity, special knowledge and skills, work experience, and willingness to risk investment capital for promising new enterprises.
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Buffett or the executives of General Electric or the masters of Silicon Valley's venture capital would never think of staking their funds without inside knowledge unavailable to hoi polloi.
Bricks and mortar are needed, but so are knowledge networks and institutional capacities, which rely on social, cultural and intellectual capital.
While she may go to a greying boardroom to raise capital, she recruits those with little experience but tremendous potential (and knowledge of the market) to help her implement her idea.
With a wide-ranging knowledge base, she created a new way of investing by capitalizing on dislocations across the global capital markets and identifying areas of investment where capital is most needed and valued.
The company, which has raised an unspecified seed financing from Spark Capital and market maker GETCO, provides browser-based tools for anyone with basic programming knowledge to create algorithms and simulate actual trading with them.
What is most significant is that the solution does not require vast capital outlays, but rather, education and training in a low-technology, high-knowledge strategy that greatly increases profitability.
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