As skill becomes less of a transformative factor, luck takes the reins.
The view is that such knowledge assets have been neutralized of any dependency on any one person and can be easily transferred, learned or carried out by anyone else with approximate level of skill, with less or no experience in the matter.
FORBES: Shifting The Imperative From Knowledge Management To Expertise Management
Not surprising, given the complexity of these products coupled with the less than impressive skill-set of your average broker, regulators have found that brokers peddling structured notes generally lack knowledge of the risks of the product themselves.
But Dr David Clarke, a professor at Leeds University who's studied young people and road crashes, says this has less to do with driver skill than with attitude and experience.
His ultimate skill is buying superb, statement gemstones at less than what it costs to mine them.
However, a key skill of managers is actually the ability to talk less and listen more.
Employing more, but less productive, workers lowers the average skill level of the labour force.
U.S. investors do not have some exorbitant skill that would make our international budget constraint any less binding.
FORBES: Bulletproof Dollar Facing Tough Competition, Warnock Says
When low-skill labor is made more expensive, people hire less of it.
Indeed, if Mr Bresnahan is right, economists' standard ways of categorising workers according to skill are wrong: there is more (or less) to it than education and training, narrowly defined.
Leveling becomes a punishment rather than a reward, and every time we assign a new skill point we do so with the inevitable knowledge that the game becomes less fun with every experience point we gain.
We hire for knowledge and skill, but we try to determine if a job applicant is a good match in less tangible ways.
FORBES: The Key to Keeping Your Employees: Do It the Old-Fashioned Way
应用推荐