Erin Smith

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A transdisciplinary team summarizes key points and reflections after 18 months of activity.Global society is faced with interrelated challenges that are complex, systemic, and dynamic from climate change, population displacement, famine, productivity slowdown, and mis- and dis-information to cyber exploitation, mental health crisis epidemics, aging and dementia, COVID-19-related losses, and fraying trust in social and political institutions. In the midst of these crises, a group of neuroscientists, medical doctors, and economists came together to develop new concepts, ideas, and tools to use brain science to tackle some of society’s most pressing problems. A seminal paper outlining their preliminary thinking on brain capital was published in January 2021.1 The agenda has significantly advanced since through deeper, transdisciplinary research and narratives; broader academic, business, and policy networks; and refined measurement to guide all stakeholders and monitor progress. The Brain Capital Alliance takes this to the next level. Each of us possesses a complex system—the brain—which is implicated in the emergence, propagation, aggravation, and potential resolution of these challenges. To address these issues, a neuropolitical approach that considers brain capacity as a crucial asset is needed. The insights can be translated into policy, business practices, and civil society advocacy. In response to the urgent needs, a group of researchers and policymakers developed the concept of brain capital. Brain capital is based on the position that brains are the world’s most important resource and the means by which all problems will be solved, ameliorated, or worsened. The brain capital framework acknowledges the importance of every brain and the corresponding need for brain diversity to achieve equity in solving global issues. Brain capital is a framework incorporating brain health and brain skills in the knowledge economy. In an era that is dependent on intellectual capacity, our brains are our greatest asset. Brain capital provides an approach to define brain issues, quantify them, and track them. Brain preservation and enhancement is critical to advancing brain capital, which can be driven into local, national, and international policies and investments.1 Despite the fundamental importance of brain health and brain skills, these factors are often overlooked in policy-making and are not well-reflected in measures of human capital.2 Brain capital differs from human capital in its recognition of the unique role that brain health and brain skills play in human civilization. Unlike human capital measures, which look at broad educational and health metrics, brain capital encompasses and measures brain health as well as society- and-economy-critical variables such as collective confidence, social trust, and shared values and goals. These key social processes in turn depend on critical aspects of individual human functioning such as perceived control, confidence, ability to work collectively, problem-solving capacity, and values-driven goals. It also differs from human capital in its encompassing and measurement of economy-shaping brain health measures such as addiction, depression, anxiety, brain fog, loneliness, and dementia. There are a range of notable achievements of brain capital in the past 18 months, including new initiatives, expanded partnerships, and more outreach and influence. These are interlocking and mutually reinforcing. The Organisation of Economic Collaboration and Development (OECD) established the Neuroscience-inspired Policy Initiative in collaboration with the PRODEO Institute.3 Consultations have been held with the United National Development Programme and the World Health Organization (WHO). The OECD NIPI supported the European Brain Initiative in collaboration with EBRAINS, French EU Presidency, the European Commission, the WHO, scientific societies, patient organizations, and health professionals.4 The Meadows Mental Health Policy Institute appointed a senior fellow for brain capital.5 A new chair of excellence in brain capital will be established as part of the recently funded PEPR ProPsy, a project to develop precision psychiatry in France.6 The Global Brain Health Institute7 and the Latin American Brain Health Institute (BrainLat)8 both launched brain capital summer courses, respectively.9 Brain capital also received notable mentions in 2 US Congressional presentations in front of the Congressional Neuroscience Caucus10 and the US House Select Committee on Economic Disparity and Fairness in Growth.11 There has been engagement with major think tanks including the Center for European Policy Studies12 and The Brookings Institution.13 Two working groups were also established. The Brain Health Diplomacy Working Group aims to formalize the field of brain health diplomacy14 and to develop a brain health diplomat toolkit. Working group members include former US State Department official Virginia Bennett and former US Representative Patrick J. Kennedy (D-RI). The Brain Capital Dashboard working group aims to quantify and track brain capital and is constituted by economists, neuroscientists, and physicians. This is seen as a critical project and will subserve future policy innovations. Additional notable achievements for the brain capital agenda are outlined in the Table. Most recently, the Brain Capital Alliance, a public-private-people partnership, was launched via a series of events in Europe.6 The alliance aims to advance approaches to measurement, investment, and policy and will further integrate brain capital into policy agendas including productivity, climate change, political stability, gender equality, and neurotechnology. The alliance will raise awareness among public and private leaders for neuroscience-related issues across the life span, from early childhood development to youth resilience and brain reserve, to reduce the risk of cognitive decline in older adults. The Brain Capital Dashboard will be refined and leveraged in policy discussions. Specific research labs will be developed to experiment at different scales and will be applied to real world problems such as micro-plastic pollution, the youth mental health crisis, caregiver distress, and disinformation. These platforms will improve the statistical bases and analytical foundation to guide decisions and assess progress. Novel financial instruments will also be explored to unlock additional funding for building brain capital such as bonds, venture capital, and exchange traded funds. The alliance is seeking interested supporters, collaborators, and partners to accelerate this work. As we look toward the future, it is imperative that brain capital continues to be developed and integrated into policy, business, and society. To sustainably solve the most pressing global challenges, we must place brain capital at the heart of solutions. We must develop ways to use brain science to overcome the most difficult, seemingly intractable global problems. Dr Eyre is the lead of the Brain Capital Alliance, co-lead of the OECD NIPI and Senior Fellow with the Meadows Mental Health Policy Institute. Eyre maintains advisory or adjunct roles with IMPACT at Deakin University, the Heka Fund, Brain Health Nexus at Cohen Veterans Bioscience, GBHI, Baylor College of Medicine, BrainLat, University of Texas Health Sciences Center at Houston, the Davos Alzheimer’s Collaborative, and the Euro-Mediterranean Economists Association (EMEA). Dr Hynes is an associate fellow at the Johns Hopkins School of Advanced International Studies. Dr Berk is the director of the IMPACT institute at Deakin University. Ms Smith is an Atlantic Fellow for Equity in Brain Health at the Global Brain Health Institute, a Thiel Fellow at Stanford University, and a Steering Committee member for the OECD Neuroscience-inspired Policy Initiative. Dr Cummings is the Joy Chambers-Grundy Professor of Brain Science; director of the Chambers-Grundy Center for Transformative Neuroscience; and co-director of the Pam Quirk Brain Health and Biomarker Laboratory, Department of Brain Health, School of Integrated Health Sciences, University of Nevada Las Vegas (UNLV). References 1. Smith E, Ali D, Wilkerson B, et al. A brain capital grand strategy: toward economic reimagination. Mol Psychiatry. 2021;26(1):3-22. 2. Angrist N, Djankov S, Goldberg PK, Patrinos HA. Measuring human capital using global learning data. Nature. 2021;592(7854):403-408. 3. Neuroscience-inspired Policy Initiative. Organisation for Economic Co-operation and Development. Accessed August 22, 2022. https://www.oecd.org/naec/brain-capital/ 4. Towards a European brain initiative. EBRAINS. Accessed August 22, 2022. https://www.ebrains.eu/news/Towards-a-European-Brain-Initiative/ 5. Harris Eyre, MBBS, PhD: senior fellow for brain capital. Meadows Mental Health Policy Institute. Accessed August 22, 2022. https://mmhpi.org/staff/harris-eyre-phd/ 6. Brain Capital Alliance launches to accelerate agenda for change. Newsmatics Inc. News release. July 17, 2022. Accessed August 22, 2022. https://www.einnews.com/pr_news/581691203/brain-capital-alliance-launches-to-accelerate-agenda-for-change 7. Brain capital continues to advance. Global Brain Health Institute. September 7, 2022. Accessed September 8, 2022. https://www.gbhi.org/news-publications/brain-capital-continues-advance 8. Bär N. Políticas públicas y neurociencia, la deuda con la salud cerebral. El Destape. September 1, 2022. Accessed September 7, 2022. https://www.eldestapeweb.com/sociedad/salud/politicas-publicas-y-neurociencia-la-deuda-con-la-salud-cerebral-2022910526?utm_medium=Social&utm_source=Twitter#Echobox=1662030318 9. Improving brain health and reducing the scale and impact of dementia worldwide. Global Brain Health Institute. Accessed August 22, 2022. https://www.gbhi.org/ 10. Congressional Neuroscience Caucus Briefing long haul neurological & psychological impacts of COVID19. American Brain Coalition on YouTube. May 18, 2022. Accessed August 22, 2022. https://www.youtube.com/watch?v=sdUwKIHccFE 11. Graham C. Addressing America’s crisis of despair and economic recovery: a call for a coordinated effort. Testimony to the House Select Committee on Economic Disparity and Fairness in Growth. September 28, 2021. Accessed August 22, 2022. https://www.brookings.edu/wp-content/uploads/2021/10/Carol-Graham-Testimony-Sept-28-2021.pdf 12. Launch event of the Brain Capital Alliance: towards a person-centered approach to brain health. CEPS Think Tank on YouTube. July 4, 2022. Accessed August 22, 2022. https://www.youtube.com/watch?v=Mo2dASiMrd4 13. Dawson WD, Graham C, Smith E, et al. Build brains better: a proposal for a White House brain capital council to accelerate post-COVID recovery and resilience. The Brookings Institute. December 22, 2021. Accessed August 22, 2022. https://www.brookings.edu/research/build-brains-better-a-proposal-for-a-white-house-brain-capital-council-to-accelerate-post-covid-recovery-and-resilience/ 14. Dawson WD, Bobrow K, Ibanez A, et al. The necessity of diplomacy in brain health. Lancet Neurol. 2020;19(12):972-974.

Advancing Brain Capital: Achievements, Lessons, and Next Steps

Harris A. Eyre, MD, PhD;William Hynes, DPhil;Michael Berk, MD, PhD;Erin Smith;Jeffrey L. Cummings, MD, ScD

September 13th 2022

A transdisciplinary team summarizes key points and reflections after 18 months of activity.

How prioritizing brain health and brain skills could offer new solutions to this challenge.

Cybercriminal Exploitation of Cognitive Biases: A Brain Capital Perspective

Ian MacRae, MSc;Rashi Ojha, MD;Erin Smith;Daniel Krawczyk, PhD;Michael Berk, MD, PhD;Harris A. Eyre, MD, PhD

July 27th 2022

How prioritizing brain health and brain skills could offer new solutions to this challenge.

Mind-Body Resilience for Women: A Focus on Depression

Erin Smith;Mark Heinemeyer;Sandra Bond Chapman, PhD;Paul Zarutskie, MD;Zoe Wainer, MBBS, PhD;Michael Berk, MD, PhD;Antonella Santuccione Chadha, MD;Harris A. Eyre, MD, PhD

May 18th 2022

Here’s why we should be paying special attention to women's depression treatment.

Building a Resilient Future: Addressing Youth Mental Health

Erin Smith;Debbie Beck, EdD;Andy Keller, PhD;William Hynes, DPhil;Harris A. Eyre, MD, PhD

April 25th 2022

We must prioritize youth mental health for a flourishing and resilient American future.

Violence Against Women and Acquired Brain Injuries

Erin Smith;Nick Rushworth;Eve Valera, PhD;Antonella Santuccione Chadha, MD;William Hynes, DPhil;Naoko Kawaguchi, MSc, MPhil;Jessica Wolfe, PhD, MPH;Harris A. Eyre, MD, PhD

April 12th 2022

Violence against women and resulting traumatic brain injuries increased during the COVID-19 pandemic.

Using this new model to link brain-based innovation with economics.

Brain Capital Foundry: Accelerating Responsible Innovation

Erin Smith;Walter D. Dawson, DPhil;James T. Hackett;Stephen T. Wong, PhD;Francois Véron;Michael Berk, MD, PhD;William Hynes, DPhil;Andy Keller, PhD;Ernestine Fu, PhD;Shuo Chen, JD;Harris A. Eyre, MD, PhD

January 22nd 2022

How can this new model help us link brain-based innovation with economics?

Teleworking—A New Way of Working?

William Hynes, DPhil;Erin Smith;Harris A. Eyre, MD, PhD

December 9th 2021

The COVID-19 crisis has changed teleworking. What should you be aware of looking toward the future?

Shedding Light on the Shadow Brain Pandemic: The Devastating Effects of Gendered Violence-Related Acquired Brain Injury

Erin Smith;Nick Rushworth;Eve Valera, PhD;Antonella Santuccione Chadha, MD;William Hynes, DPhil;Naoko Kawaguchi, MSc, MPhil;Jessica Wolfe, PhD, MPH;Harris A. Eyre, MD, PhD

November 23rd 2021

In honor of the International Day for the Elimination of Violence against Women on November 25, 2021, let’s consider the impact of IPV on the neuropsychiatric health of women.

What are some new approaches to ensure that the brain health technology sector continues to flourish?

Avoiding a Brain Health Innovation Market Failure: Lessons from the Hype Cycle

Henry Asher;Erin Smith;Mark Heinemeyer;Michael Berk, MD, PhD;Agustin Ibañez, PhD;Shuo Chen, JD;Ernestine Fu, PhD;Jessica Wolfe, PhD, MPH;Ryan Abbott, MD, JD, PhD;Francois Véron;William Ellsworth;Marion Leboyer, MD, PhD;Geoffrey S.F. Ling, MD, PhD;Igor Linkov, PhD, MSc;Magali Haas, MD, PhD;Harris A. Eyre, MD, PhD

November 17th 2021

New approaches to ensure that the brain health technology sector continues to flourish for decades.

Brain Science Must Be on COP 26 Agenda

Erin Smith;William Hynes, DPhil;Rym Ayadi, PhD;Megan Greene;Harris A. Eyre, MD, PhD

October 28th 2021

As the COP-26 (Conference of the Parties) gets ready to convene to discuss climate change, it is crucial for them to consider brain science.

Sustaining Investment in Brain Health: The Dangers of Information Asymmetry

Erin Smith;Mark Heinemeyer;Jessica Wolfe, PhD, MPH;Henry Asher;Ryan Abbott, MD, JD, PhD;William Hynes, DPhil;Gowri G. Aragam, MD;Ernestine Fu, PhD;Francois Véron;Michael Berk, MD, PhD;Shuo Chen, JD;Mike Lyons, PhD;William Ellsworth;Harris A. Eyre, MD, PhD

October 12th 2021

Information asymmetry occurs when one party has more or better information than the other party. Asymmetry and fraud will sour investor interest in the field.

Let’s Build Brains Better! Brain Science-Inspired Policies for the Future

Erin Smith;William Hynes, DPhil;Jorge Jraissati;Michael Hogan;Lori Rubenstein;Ernestine Fu, PhD;Eric A. Storch, PhD;Kunmi Sobowale, MD;Laura Jana, MD;Michael Berk, MD, PhD;Harris A. Eyre, MD, PhD

September 25th 2021

In order to face the rapidly changing, increasingly complex, and globally connected world, we need to focus on the importance of early brain and child development.

Anthropology-Informed Business Principles for Brain Health

Erin Smith;Eric J. Lenze, MD;Gowri G. Aragam, MD;Scott Kaiser, MD;Ernestine Fu, PhD;Marion Leboyer, MD, PhD;Shuo Chen, JD;Michael Berk, MD, PhD;Mark Heinemeyer;Harris A. Eyre, MD, PhD

August 18th 2021

The key to addressing mental health may lie in business innovation theories.

Modern Capitalism Must Prioritize Our Minds and Brains

Erin Smith;William Hynes, DPhil;Harris A. Eyre, MD, PhD

July 22nd 2021

By prioritizing minds and brains, governments, civil society, and companies will be better equipped with the health and skills needed to face unprecedented global challenges.

Addressing the Cognition Crisis in Our COVID-19 World

Erin Smith;Jeffrey L. Cummings, MD, ScD;Mark Bellgrove, PhD;Ian Robertson, PhD;Jessica Wolfe, PhD, MPH;Hannah Kirk, PhD, NHMRC;Helen Lavretsky, MD, MS;Harris A. Eyre, MD, PhD

July 19th 2021

The world is facing a cognition crisis. Here’s how to face it with measurement-based cognitive care.

Highlighting Brain-Based Inequalities for Women: From Bedside and Boardroom to Policy

Gowri G. Aragam, MD;Naoko Kawaguchi, MSc, MPhil;William Hynes, DPhil;Erin Smith;Jayashri Kulkarni, PhD, MBBS, MPH;Sandra Bond Chapman, PhD;Sofia Noori, MD, MPH;Harris A. Eyre, MD, PhD

May 5th 2021

The COVID-19 pandemic has exacerbated mental health and gender inequalities around the world. Understanding the causes is the first step toward finding solutions.