Age of Perfect Capitalism

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=hypothesis of Michio Kaku


Discussion

Michio Kaku:

(The three first waves) "equates to the popularisation of steam power, electricity, and transistors and computers, each of which triggered a surge of productivity and capital growth.

But the fourth wave comes with a fundamental difference: it will boost competition as the spread of information enabled by new technologies creates a "perfect capitalism" – the exact correlation of supply and demand.

"Capitalism is based on competition – may the best man win, right? However it's imperfect in the sense that the consumer doesn't know how much things really cost. And the manufacturer doesn't really know what the consumer wants,” Kaku says.

"That's where technology is coming in, because now the consumer will know everything about a product. The internet will be in a consumer's contact lens, which will scan every item, which has a chip in it, telling the consumer what things really cost. And then the manufacturer can use data mining to understand who the consumer is."

For the consumer, this customisation will mean an item of clothing, for example, can be instantly created to personal preferences. "All products will be suited to our personal taste... if you want the dress in red, you got it – you won't have a problem where something is out of the store, or not in your size."

This in turn becomes a new force for profit, Kaku explains, putting upwards pressure on consumption. "Perfect capitalism increases competition, makes better service for the consumer, and also more profits for the manufacturer."

For corporate players, it means the advantages of market capitalisation will shrink as playing fields even out, while data mining, targeted marketing and branding become the nexus points of competition..." (http://www.businessspectator.com.au/article/2012/10/12/business-spectator/riding-fourth-wave-perfect-capitalism)