Lange said it meant universities were forming firms, governments were acting as venture capitalist and industry was raising training of employees to higher levels.

The global economy is built on apparently ever-increasing mobility of people, capital and knowledge.

Not everywhere, however, is equally attractive for these assets, creating clusters that attract international inflows and areas reliant on their own resources. This process is undergoing changes with Greece’s potential exit from the eurozone (see two nice $$ pieces by news provider Financial Times on bank lending and bonds) but has been a battle throughout the ages, from the intelligentsia diaspora (John von Neumann, et al) leaving Europe for the US in the 1930s and 1940s to London tapping financial markets through the Rothschilds to effectively fund the later stages of the Napoleonic war.

But whereas foreign direct investment (FDI) was the goal of the 1980s government policies in many countries, the requirements to attract the brightest people, use information most effectively and supply the funds to fuel growth mean corporate venturing has…

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