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    The Millennium Book Module 6: Economic Challenges
    The Millennium Book Module 6: Economic Challenges
    The Millennium Book Module 6: Economic Challenges
    Ebook73 pages1 hour

    The Millennium Book Module 6: Economic Challenges

    By Ned Johnson

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    About this ebook

    Already we have seen massive changes in the environment in which business exists. In the same way that the era of the unbridled robber barons came to an end a hundred years ago, so now their legacy is finally reaching the end of its afterlife. The belief in zero-sum economics is beginning to die of neglect, and is being replaced by other more sane and successful models.

    Look, for example, at some of the biggest and most successful technology companies in recent times. They come in two basic flavors. The first is a kinder, gentler variant of the robber barons, who still see business as a kill or be killed affair. The other is a new generation of business thinkers and entrepreneurs, who are just as interested in making money, but don't see doing damage to others as a viable approach. These people want to do something wonderful and trust that if they do it well, they will make a whole bunch of money.

    As examples of the first class of businesses you have Microsoft, Apple, and Oracle. Their law-of-the-jungle approach to business has allowed them to build financial and technological empires that until very recently were virtually unprecedented. But the latest crop of entrepreneurs are cut from a different bolt of cloth.

    In this module we will explore in depth these and other major evolutionary developments that will shape the future of economics on a planetary scale.

    * Globalization
    The economies of every country on Earth are now interdependent. When America sneezes, Europe says "gazuntite," and Asia reaches for the cold pills. How is our economic world going to change in the future?

    * Mobility
    Our ability to collaborate is growing at an astonishing rate, both physically and virtually, and with it our ability to conduct commerce of all kinds on a global scale. Be ready for a lot more of it as the century unfolds.

    * Developing economies
    What are the prospects for countries whose economies are just beginning to develop? How will they affect the nations who are already more developed? How will it all work out over the next several decades? There are no answers, but there are informed guesses in this chapter.

    * Distribution of wealth
    There is always talk about the inequities in the distribution of wealth, but what are the facts, and what are the solutions in the decades to come? This chapter offers insight and potential solutions.

    * Distribution of labor
    How will people make a living as the new century unfolds? What kinds of education will they need? What of those who don't have access to schools? These questions and more have answers, and some of the best are in this chapter.

    * New business models
    The advance of technology, especially the Internet, has brought forth many new says for businesses to make a profit. There are also modifications to existing models. This chapter describes the larger framework and projects it into the future.

    * Rise of telecommuting
    Around 200 years ago, people deserted their farms to live in cities and work in factories. Now, thanks to telecommuting, the reverse trend is starting to be felt. Where can we expect this process to go next?

    * Alternative financing
    No longer are traditional banking and financial institutions the only game in town. Nowadays there are numerous alternatives that are available to people who have never had access before. Read about this powerful trend in this chapter.

    * New views on intellectual property
    The very concepts of protecting ideas, creations, and inventions is beginning to experience a massive redefinition. What are the real issues, and where might they be going in the remainder of this century?

    * Global economic stability
    No one likes economic instability. The very notion of wild swings in incomes, prices, and jobs is upsetting for all, and terrifying for many. In this chapter the roots and solutions of these gyrations is explored in depth.

    LanguageEnglish
    PublisherNed Johnson
    Release dateNov 5, 2014
    The Millennium Book Module 6: Economic Challenges
    Author

    Ned Johnson

    Ned B. Johnson has published several non-fiction books, but and one novel. He has also written many short stories Some of the stories are free here, and some have a price tag.Translation Translation AllFull-length books will be added to the collection as they become available.As to the character of his work, if you don't feel better after reading than when you started, you just weren't paying very close attention.

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      Book preview

      The Millennium Book Module 6 - Ned Johnson

      The Millennium Book

      Module 6: Economic Challenges

      Following are the ten chapters of Section 3 of The Millennium Book. If you haven't already read them, the first ten chapters in Section 1 are available by clicking here. Links to all the other modules can be found at the end of this document.

      Economic Challenges

      As with so many other aspects of human life, the economics of our world will be going through extraordinary changes during the rest of this new century and beyond. And just like the changes in the personal, social, and political spheres, economic changes will be largely driven by new and evolving technologies.

      Already we have seen massive changes in the environment in which business exists. In the same way that the era of the unbridled robber barons came to an end a hundred years ago, so now their legacy is finally reaching the end of its afterlife. The belief in zero-sum economics is beginning to die of neglect, and is being replaced by other more sane and successful models.

      Look, for example, at some of the biggest and most successful technology companies in recent times. They come in two basic flavors. The first is a kinder, gentler variant of the robber barons, who still see business as a kill or be killed affair. The other is a new generation of business thinkers and entrepreneurs, who are just as interested in making money, but don't see doing damage to others as a viable approach. These people want to do something wonderful and trust that if they do it well, they will make a whole bunch of money.

      As examples of the first class of businesses you have Microsoft, Apple, and Oracle. Their law-of-the-jungle approach to business has allowed them to build financial and technological empires that until very recently were virtually unprecedented. But the latest crop of entrepreneurs are cut from a different bolt of cloth.

      This class of business people are following a dream that they believe will create a better world for everyone, which certainly includes themselves. This is not to say that the Bill Gates and Steve Jobs of the world don't have dreams of making the world better, too. But their dreams are centered on what's good for me is good for the world. While the other type believes that what's good for the world is good for me.

      In this second group you have companies like Google, Amazon, and Ebay. These people all have goals that began as a dream for empowering individuals the world over, and oh yes, if we are successful, we will get richer than all get out. The likes of Sergey Brin, Larry Page, and Pierre Omidyar are more focused on promoting personal empowerment of other people than they are at consolidating their own personal empires.

      Now, in all fairness, it remains to be seen just how long they will be able to maintain that focus, not to mention what will happen to their companies when their influence is no longer the guiding force. But they are only the first generation of such business mentalities, and there seems little doubt that we, as a race of beings, will continue to get better and better at it.

      In the end, the law-of-the-jungle businesses are an endangered species even now. Their own false beliefs as to what businesses must be and do to succeed are the inborn seeds of their own destruction. They will continue to make decisions that appear logical to them, but in truth will cut short their own lifespans.

      Conversely, the newer generation of businesses are far more service oriented and far less myopically focused on controlling markets. They believe that if they stay true to their own vision, they cannot fail. And so far, they haven't.

      The slow, constant, and relentless expansion of the open-source movement is another outgrowth of, and driving force behind, this momentum toward a new approach to commerce in particular, and business in general. If you are not familiar with open-source, you would be well advised to take yourself to school on the subject, and to stay abreast of its evolution (which is now becoming pretty dramatic). To give you a starting point, this module contains a chapter on the new face of intellectual property that is emerging in the new millennium.

      So look for more and more of this kind of philosophical approach in the decades to come, and less and less of the warlike mentality of the Gates and Jobs era. The days of the power brokers is rapidly drawing to a close. Competition is finally giving way to cooperation, which, as has been discussed earlier, is a natural and inevitable consequence of our evolution as social creatures. Now let's take a look at some of the specific areas within the larger subject of economics.

      Globalization

      Of all of the many powerful and dramatic changes in the economic reality of our world that are already visible, and will continue to develop in the coming years, none is more profound than the globalization of all forms of commerce. Nor is this limited to economic commerce. It is also a major factor in the political sphere of human events (see the module entitled Political Challenges) and many others.

      But what is economic globalization, and what is its impact on ordinary human life in the coming century going to be? To answer these question, let's go back to the chain of events that preceded this century. The first thing we see is that for the

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