in this hyperconnected world, changes have to be so fast.here are companies in silicone valley that do quarterly employer reviews now because their product cycle changes so fast. you can't wait until the end of the year to find out you have a bad team manager. that has to work back toward education. what we argue in the book going forward, there are two kind of countries in the world, hie and lie. high imagination and low imagination. despite the idea, i can go to delta, taiwan, they will give me a cheap chinese manufacturer. jump to amazon.com, they will do fulfillment and delivery, craig's list and get an accou accountant and the countries that are thriving, israel, start up nation. we are not going to bail out of this crisis or stimulate out of this crisis. we are only going to educate ultimately and imagine and invent. >> congresswoman waters on the topic of education, look inside the unemployment numbers as we did for august and this is what you find. if you have less than a high school degree. >> i am melissa rehberger. we are interrup

we're living in a world that's not just connect, it's hyperconnected.hat that means for employers is i can have access to more machines, more automation, more software, more owe bots. not only cheap labor, but cheap genius anywhere in the world. this is posing a huge challenge to our workers. we have a chapter in the book called "average is over." everyone needs to think, first of all, of themselves when it comes to education like an immigrant. how does an immigrant think? he thinks, nothing is owed me. i don't have a place waiting for me at harvard. i better understand the world i'm living in, and boy, i'd better work harder than the next guy because i've got nothing else going for me. you think ike an immigrant. tell your kids that. secondly, think like an artisan. this is an idea of larry katz at harvard. ard sans were the people before mass production in the middle ages. they made every individual saddle. they made every individual shoe. they were so proud of what they did, piers, they carved their initials into it. when you are doing your job today

we've gone from connected to hyperconnected in terms of the people who are now competing with us and connecting with us. when we sat down to write this book, i went back to "the world is flat." i looked in the index and i realized that facebook wasn't in it. when i said "the world is flat," facebook didn't exist -- or for most people didn't exist, twitter was a sound, the cloud was in the sky, 4g was a parking place, applications was what you sent to college. that all happened in just the last seven years. and what it's done is taken the world from connected to hyper connected. and that's been a huge opportunity and a huge challenge. lastly, i just say one thing. all of this is overlaid and i'm interested in doris's view in this in particular, with a generational shift. we went from the greatest generation, whose philosophy was basically save and invest, and we're still living off their saving and investing, to basically the baby boomer generation, whose philosophy turned out to be borrow and spend. and we've really shifted from a generation born in the depression, world war ii and t

we've gone from a connected to a hyperconnected world.s is basically the whole global curve has risen. that is employers today, joe, they have access now to more cheap automation, more cheap software, more -- not just cheap labor but cheap genius anywhere in the world. and as a result, we have a huge challenge to upgrade our education system, to bring the bottom to the average but also to bring the average so much higher so we have more people starting things and inventing things because we can't bail our way out of this crisis. we've got to invent our way out of this crisis. >> tom, it's willie geist. you heard donny mention the bloated empire. we've seen all the books over the last few years about the last days of rome, sun setting on the american empire. what gives you optimism, though, as you travel around not just the country but the world that america will come through this difficult period better and remain competitive with places like china and india, the countries you mentioned. do you have good reason for optimism? >> you know,

what it's done is taken the world from connected to hyperconnected. it's a huge opportunity and a huge challenge. it's all overlaid. we went from the greatest generation whose philosophy was save and invest and we are still living off the saving and investing to the baby boom generation. we have really shifted from a generation born in the depression, world war ii and the cold war. they were serious people. to a generation basically that is much less serious. we have gone from basically the values of the greatest generation which where what doug called sustainable values to a baby boom generation. do whatever the situation allows. put them together and i think you account for a lot of the hole we are in right now structurally. >> that's the big picture that we will unpap. go to the immediate. the background, not just what got us here, but we are facing persistent unemployment and the fact the economy is not growing. we are going to hear from the president this week. what is he going to say? what is it that government can do? >> i think the president t