Before yesterday's diversion around the super bowl, I was discussing the impact of technology, how this was creating an environment where many commodities were becoming "free". This still allows profit if you can find ways to create generative value, a strong concept that is broadly a re-branding of our "old" individualised marketing principles.
Unsurprisingly, the Economist seems to think these principles are pervasive and persuasive, global and inevitable. The magazine does not publish the names of individual journalists on articles, but a certain undercover economist is a strong suspect. Anyway, the article argues that despite the current credit crunch and fears of western recession, the people of the world have never had it so good.
Three main reasons were given, primarily affecting the emerging markets: social changes, globalisation, reduced wars. And the three were somewhat tied together by two factors: technology and free markets. The article admitted, even highlighted, the rise in economic inequality also associated with those two factors.
I particularly liked one phrase mentioned in passing. The title of this post. Countries like Nepal have dropped out of the news. The article notes this as a good thing.
But in the midst of the positive news, there were a few glaring exceptions - countries and regions that were failing badly. The article did not bark out a link between them. Tomorrow I will turn it completely around to demonstrate one ...