You may in the past have sold your spark plugs at one price to General Motors due to some delivery conditions, and at a different price to General Motors and Ford, and at a different price to DaimlerChrysler. Now it s one purchasing agent for all of them. We re following the same pathway in pharmaceuticals and healthcare products, in electronic parts, in airplane parts, in bulk chemicals. The exchanges are announcing every day a new sector that is forming a uniform global purchasing environment. This is transforming the way traditional business performs what it does.
Companies constantly find a new niche.
If they re not prohibited by regulation or the tax system from entering a new niche, they will. Humans are infinitely adjustable In the short term there will be fewer changes than you might think. It s very easy to over-exaggerate how much change there will be in the short term. But in the long term there s far more change than you would predict. The reason for that is that human beings take a while to understand these new environments.