Toffler looks at the many ways the “Third Wave” is revolutionizing our relationships to three “deep fundamentals” and, therefore, to wealth systems in general. Understanding this is critical for being successful in our emerging world.
Deep Fundamentals
Toffler looks at the many ways the “Third Wave” is revolutionizing our relationships to three “deep fundamentals” and, therefore, to wealth systems in general.
- time relationships are being transformed with respect to the continually increasing amount of changes and synchronization required for businesses and individuals to accumulate wealth.
- space relationships are being transformed with respect to the former geographic limitations of market transactions. Never before has it been possible for businesses and individuals to accumulate wealth from around the globe with the ease that today’s internet brings.
- knowledge relationships are being transformed with respect to availability. As Toffler states, never before have we been able to instantly access virtually unlimited amounts of any kind of information for virtually zero cost. Unlike the foundations of past wealth revolutions, the Third Wave’s foundation defies traditional economics in that knowledge is not scarce; knowledge is infinite and exponentiates itself. An economy based on knowledge also defies classical economics due to the non-rival property of knowledge.
