In the final paragraph of The General Theory of Employment, Interest, and Money, the most influential economics book of the past century, John Maynard Keynes wrote that “The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.” I lost a great friend last week—and Texas lost a great academic scribbler—with the passing of Dr. George Kozmetsky.
George was another of the great men in the generation before me who showed exceptional kindness and patience to a budding youngster from the outset. Our friendship began more than 20 years ago, and we have collaborated on numerous projects since that time. In fact, when I received word of his quiet death, a copy of one of his recent monographs he had sent to me was on the table just in front of me. He was prolific and thoughtful to the end.
George Kozmetsky was certainly not your typical academic scribbler. He was highly successful in business, one of the founders of Teledyne. He served as Dean of the University of Texas Business School for many years, started and directed the IC2 Institute (of which I am honored to be a Senior Fellow), and was instrumental in establishing the Austin Technology Incubator. He has won more prestigious awards than anyone can count. His was truly a life of achievement in many arenas. In the midst of all of that, however, I don’t want us to forget that he was indeed a scribbler, a pioneer of great ideas that others would later adopt as their own.
It is difficult to find anyone running for any office in Texas (or elsewhere) today, from Governor to Inspector of Hides and Skins, that doesn’t have a platform which includes being a leader in technology, fostering small business startups and financing, and meeting the challenges posed by emerging demographic patterns and the global economy. These issues transcend political parties and ideologies; they are now an accepted part of our vocabulary. For that we can in no small measure thank Dr. Kozmetsky, who put forth these concepts long before others had recognized them.
In addition to everything else, George was one of only a small handful of folks who was talking about these matters in the 1970s. He wrote; he spoke; he advocated; and he was most definitely a shaping force behind many of the “practical men who believe themselves to be quite exempt from any intellectual influences.” Fortunately for all of us, he also acted on his beliefs. He put legs on his musings and bolstered them with financial muscle. George is one of the key architects of the vision that made the University of Texas a tier one university and a catalyst for a burgeoning technology industry in the state. He helped to shape Austin’s transformation from a sleepy town dominated by State government and a large university to a bustling center of innovation and entrepreneurship. In the process, he played a major role in re-engineering Texas for the better.
We will sorely miss the shrill and commanding voice that could dominate any setting with enthusiastic rhetoric. We will sorely miss the sheer energy that made things happen. Most of all, we will sorely miss the charisma and warmth of a genuinely fine and philanthropic human being. We will retain the legacy of ideas from an impressive intellect and the very real and sustainable progress and prosperity which he fostered. Through a life well lived, George Kozmetsky made Texas—and the rest of the planet—a much better place.