By Jacob Arfwedson
For global capitalism to reach optimal eclosion, there are several basic conditions:
- free trade: companies are allowed to sell wherever they sense a profitable opportunity;
- the tech revolution: production may take place anywhere, whereas selling may be done thousands of miles from the point of production;
- open communications: without a reasonably modern infrastructure – including telecoms, ports, airports etc – the network effects known as globalisation will not pay off;
- protection of intellectual property rights: platform companies like IKEA, Wal-Mart or Dell would be worthless without this provision;
- the right to be wrong, i.e. the right to fail which is inherent in and necessary to any entrepreneurial activity.