Just finished reading a 20 year old book by Kenichi Ohmae the former McKinsey MD called the Borderless World.
Fascinating to see his view of international trade and finance so relevant to what has happened in the last 20 years.
In the closing chapter he uses the metaphor of growing things and recgonising the different types of national “soil” on which one might develop a buisness.(He juxtaposes Japan BTW).
“…patches of soil can vary considerably in the kinds of growth they will support. These differences have consequences.
The United States, for example, is fertile ground for the start-up of small entrepreneurial companies. That is where the nation’s economic dynamism rests. That is where most of its new jobs get produced. You havea great idea, you define a niche you can serve, you get financing, you open your doors, you win customer approval, you take your company public and cash in through capital gains on the value you have created. That, in fact, is when the company probably has the highest value for you. Operations are just at the threshold of major capital investments. Market potential looks extremely bright. Reactions to your business idea are uniformly positive. So that’s when it makes the best economic [financial?] sense to sell the company and cash in on what you have created, a phenomenon known as the “American Dream”.” pp206-207