• The Great Transition

    The Great Transition argued the global economy was transitioning towards a higher level of productivity. This productivity surge is deflationary. It lowers prices and, in turn, it should lower profitability. In particular, it argued that corporate capital is challenged by the consequences of technology, competition, easily accessible information and shifting consumer patterns. At the heart of this change is the rise of the market in decision making. Market-based decisions are fundamentally changing the global economy and making redundant historical decision making structures; most obviously the global corporation.

    The Great Transition identified a number of factors in making information more accessible and valuable. These include falling decision-making costs, the cheaper acquisition of trust, the ability of smaller businesses to access the benefits of scale and a shift in consumption patterns from the homogenous to the heterogeneous.