We all know that the US economy (as valued by Wall Street) grew a couple of trillion dollars between 1994 and the recession. Some of this was illusionary, but there was real growth too. You don’t see new oil refineries and steel mills popping up all over the landscape.
The real growth, and real wealth, has come largely from knowledge-based activity. We have created vast real market capitalization – in real growth – as we shift gradually from an industrial age, to what has been called the Information Age, the Digital Age or the Age of Knowledge. New innovation and thought-based entrepreneurship has created new industries and jobs few people dreamed existed, and this will continue to happen.
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