Morning Advantage: Should You Have a Little Something on the Side?
HBR.org 2012-06-21
Back in my day (spoken in the voice of Grandpa Simpson), pursuing a business interest beyond your day job was frowned upon by the corporate minders, likely seen as demonstrating a lack of loyalty and commitment. Even the term we used — "moonlighting" — suggested something if not sinister, at least mildly secretive. But in this time when we celebrate all things entrepreneurial, side projects are not only accepted, they are often promoted by employers and employees alike writes Ian Sanders in the Financial Times. For executives who can find the time, outside business interests can be a great source of fulfillment, and provide opportunities for new thinking and challenges. For many companies, side projects demonstrate drive, an entrepreneurial spirit, and "a hustler attitude," note hiring professionals. But a word of caution: familiarize yourself with your employer's rules and temperament before you dive too quickly into an outside venture.
A Different Kind of Wisdom of Crowds (The Telegraph)
Elinor Ostrom, the American economics Nobel laureate who died last week at the age of 78, turned people’s perceptions of the “tragedy of the commons” upside down. Before Ostrom, people generally believed regulation was necessary to prevent fishermen from overfishing and manufacturers from polluting. But growing up poor during the Depression, she had seen people cooperate at the grass-roots level, and she proposed that public use of common resources becomes a “tragedy” only when someone tries to impose a solution. Ostrom found that a resource will be well-managed when those who stand to benefit are close to it and to each other. In fact, she argued that the need to avert over-exploitation was the spark that led humans to form communities in the first place.
The Rising Cost of Raising Children. It Isn't All Bad News (The Atlantic)
The cost of raising a child has increased by $40,000, or 23% in 2011 dollars, over the past-half decade, a new study finds. While forty G's is nothing to sneeze at, a lot of us probably expected that number to be even higher. It's a matter of partial offsets: the cost burden of food and clothing has decreased substantially — dropping from 35% to 22% of the typical family budget — while child care, education, and health care costs have exploded. In some respects, this is good news, writes Derek Thompson, since education is a better long-term investment than underwear.
Et Tu, Talents?
The Curse of Your Qualities (MIT Sloan Management Review) For Leaders, Mastering Traditional Economics Isn't Enough (Gallup Business Journal) What an Outside Facilitator Can Do for You (Chief Executive)