I was amazed to see today’s Financial Times full-page add saying:

“10 billion dollars Contributing to the Development of Knowledge and Culture

His Highness Sheikh Mohammed Bin Rashid Al. Maktoum announced the establishment of his foundation with an endowment of 10 billion dollars, focusing on human development In the region. The foundation will facilitate and promote knowledge creation and dissemination, and will nurture future leaders, providing them with equal opportunities with the aim of building a knowledge-based society.”

I am sure that the future belongs to those countries and companies that will become the most efficient users of the most important asset of the 21st century – intellectual capital. The mission statement above is truly breath-taking, because knowledge creation and dissemination are the values which, in my view, will transform the world in this century. We are witnessing an incredible and unprecedented transformation, one national asset – oil – is being transformed into another global asset – knowledge, or more broadly intellectual capital.