Ed and Ron will explore the following insight from Thomas Sowell: After all, the caveman had the same natural resources at their disposal as we have today, and the difference between their standard of living and ours is a difference between the knowledge they could bring to bear on those resources and the knowledge used today. We will also discuss the five stages in human economic history, from hunter and gatherers to the Industrial Revolution, and now a knowledge economy; the differences between data, information and knowledge; the physical fallacy and why we continue to cling to this outdated mode of thinking about our economy; and how hard it is to make a toaster from scratch. A framework for leveraging your organization’s intellectual capital will be presented.