ABDULLAH II ibn al-HUSSEIN, KING OF JORDAN
AMMAN, JORDAN, OCTOBER 22, 2011: At the Dead Sea in Jordan, the World Economic Forum is convening a Special Meeting on Economic Growth and Job Creation in the Arab World. As a WEF Davos participant, once again, I marvel at WEF founder Klaus Schwab’s brilliance in identifying the Arab World’s critical unemployment challenges and recognizing that if they are not resolved, there will be increased social instability throughout Arab countries which, in turn, will directly impact the rest of the World.
King Abdullah II of Jordan opened the meeting by observing that the Arab World has reached a critical point. With one of the highest unemployment rates for youth in the World, the Arab community needs to create 85 million new jobs. As I have cautioned, the high unemployment rate of especially Arab male youths has/will contribute greatly to continued social instability in many Arab countries.
To remedy this situation, the King recommended that only entrepreneurs, innovators, educators and policy makers can lead the way in creating these new jobs.
While the King’s observations are visionary and very valid, I would caution him in on his reliance on “educators and policy makers” to help pave the way for real economic development in the Arab World. The data supports the conclusion that, generally, entrepreneurs and innovators create jobs/enhance economic development, but educators and policy makers have a mixed record.
Educators by their nature are generally very light on “real life” business work experiences. They are “risk averse” and timid in their approach to implementing innovation. When I was asked by a major US University to establish a “think tank” on global aging and America’s baby boomers, the nationally acclaimed President of the University asked me what type of people I was looking for to staff the new venture. I responded that “original thinkers” were my preference. His response was that I was going to have a problem because “you don’t find original thinkers on the faculties of universities.” This is a point well taken and should be heeded by the Arab community as to how much they can/should rely on educators for sound, workable actionable strategic planning/implementation.
As to relying on policy makers, the Arab World has been inundated with economic development policy makers in/out of government with a mixed record of success. No need to go though the endless list of economic development projects which have failed over the years.
Long term, the real engine for job creation in the Arab World will come from their wonderfully creative people. Supported by their societies which should provide an economically democratic environment, sound educational systems and stable democratic political systems, the pieces will be in place to foster massive innovation/entrepreneurship which will create many jobs.
Congratulations to King Abdullah II of Jordan and the WEF’s Klaus Schwab for their enlightened leadership in raising the World’s awareness to the challenges facing many Arab countries and, ultimately, our World.
