Easy to forget that business and commerce there almost as long as civilization itself . Economy William Playfair , the progenitor of the modern charts in 1805 published a book in which he investigated the causes of the decline of wealthy nations.
The following table is placed at the beginning of a book . It provides food for thought on a background of modern attempts to analyze how changing the way of economic development , as is done , for example, in the annual directory of investment returns CreditSuisse.
These two excellent books are a reminder to investors that the economic situation has changed dramatically with the property over time. The graph below reflects the emergence in the international arena of the United States of America, which is a prime example of an emerging market . Russian Empire , Britain, France and Germany in those days were the states with the most advanced economy. Chinese economy and India economy are not mentioned in the table.
Surprisingly, as the situation is changing for a few hundred years, or even for several decades .
But let’s take a more recent example of a radical change in the economy situation. Did you know that there were times when serious businessmen doubted that South Korean companies are capable of producing microwave ovens ? Author of “The Silent War ” about the future of competition in business, published in 1990 , describes in detail the obstacles faced by the company Samsung, before to become competitive in the market.
If you look at the share of the company’s products on the market , the production of which requires advanced technologies, such as hard drives and flash memory blocks , it is hard to believe that in the recent past, serious businessmen skeptical about the prospects for Samsung. After 45 years since the founding of the company in the business competitive environment has changed almost beyond recognition.
This long digression into the history brings us to the question of who should be given every investor : what changes occur in his mind right now?