The New Golden Age

strategy + business (Stahlman) - The history of investment and technology suggests that the global economy is poised to enter a new phase of robust, dependable growth. Such phases occur roughly every 60 years, and they last for a decade or more, part of a long cycle of technological change and financial activity. The current cycle, which began around 1970, is based on silicon: the integrated circuit, the digital computer, global telecommunications, and the Internet. It may feel like this technology has run its course, but the cycle is really only at its midpoint, and a new silicon-based global elite will lead the way to economic recovery.