Drucker on Economic Development and the Value of ‘No-tech’

Above all, to have ‘high‑tech’ entrepreneurship alone without its being embedded in a broad entrepreneurial economy of ‘no‑tech’, ‘low‑tech’, and ‘middle‑tech’, is like having a mountaintop without the mountain.

Even high-tech people in such a situation will not take jobs in new, risky, high‑tech ventures. They will prefer the security of a job in the large, established, ‘safe’ company or in a government agency.

Of course, high‑tech ventures need a great many people who are not themselves high‑tech: accountants, salespeople, managers, and so on.

In an economy that spurns entrepreneurship and innovation except for that tiny extravaganza, the ‘glamorous high tech venture’, those people will keep an looking for jobs and career opportunities where society and economy (i.e., their classmates, their parents, and their teachers) encourage them to look: in the large, ‘safe’ established institution.

Neither will distributors be willing to take on the products of the new venture, nor are investors willing to back it.

Peter Drucker – What Will Not Work