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If you wanted a glib way to sum up how the economy works today, you could say we've gone from hardware to software, from selling tangible things such as railroads, cars, and airplanes to selling less tangible ones such as information services. In fact, services grew from 31 percent of U.S. economic output in 1950 to 55 percent in 1998. In Future Wealth, Stan Davis and Christopher Meyer explain why they think we're headed toward a new stage of economic development in which "human and intellectual capital [is] the most highly valued resource." Remember how David Bowie sold Bowie Bonds a few years back, essentially leasing out his future earnings from royalties and concert revenues so he could get $55 million in cash up front? That's just the beginning, say the authors. Today thousands of people we've never heard of accept signing bonuses to go to work for companies, and soon many exceptionally talented individuals will imitate Bowie's move--sell stock in their future earnings. Regardless of whether we're fortunate enough to offer ourselves to the financial markets in the form of stocks or bonds, or even to command signing bonuses, each of us has unprecedented potential to become wealthy, the authors posit. More and more, our salaries will become chump change compared to the money we make from investments. Add to that the supposition that we carry around untold capital in our brains, and Future Wealth shows a future that we'll definitely want to be a part of. --Lou Schuler
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