As regular readers know, I’m a fan of John Mauldin’s weekly letter on economic trends and projections. Mauldin writes clearly and approaches issues with a quiet dose of common sense.
This week, when I opened the letter, I was captivated. There was something different about the tone, something very personal and passionate. He was writing about optimism, expressing his confidence in the power of people and ideas to create solutions to even the toughest problems.
Let’s look at some changes we are likely to see over the next few decades. My view is that we have a number of waves of change getting ready to erupt on the world stage. The combination of them is what I call the Millennium Wave, the most significant period of change in human history. And one for which most of us are not yet ready.
Some time next year, we are going to see the three-billionth person get access to the telecosm (phones and internet, etc.). By 2015 it will be five billion people. Within ten years, most of the world will be able to access cheap (I mean really cheap) high-speed wireless broadband at connection rates that dwarf what we now have.
That is going to unleash a wave of creativity and new business that will be staggering. That heretofore hidden genius in Mumbai or Vladivostok or Kisangani will now have the ability to bring his ideas, talent, and energy to change the world in ways we can hardly imagine. When Isaac Watts was inventing the steam engine, there were a handful of engineers who could work with him. Now we throw a staggering number of scientists and engineers at trivial problems, let alone the really big ones.
And because of the internet, the advances of one person soon become known and built upon in a giant dance of collaboration. It is because of this giant dance, this unplanned group effort, that we will all figure out how to make advances in so many ways. (Of course, that is hugely disruptive to businesses that don’t adapt.)
Of course I think he’s right: I share a lot of his world view and have seen groups of people create value out of ingenuity and necessity.
You can subscribe to Maudlin’s Thoughts from the Frontline by clicking here.