Chapter Two
The Global Capital Market
“In 1750, most people would probably have said that the pre-industrial configuration of the world's economy was largely a permanent state of affairs. That the world had always been like that and probably always would be and they would have had the facts on their side.”1
– Michael Spence, Nobel Economics Laureate, 2001
We've argued that, in order for the gears of consumerism to kick into motion, three things were necessary: first, good ideas; second, time and resources for the entrepreneurs with the ideas to develop them into useable stuff; and third, a way to get that stuff to market and ultimately, into the hands of consumers. We've argued further that it is our role as consumers that has driven the massive ...
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