But free enterprise, is a proven concept. At the high points in our economic history - wisely employed capital, and other finite resources - fueled the added value capacity of business, inspired innovations, and thus ultimately, produced growth. Free enterprise, also fosters competition - and reduces prices to consumers and customers.

The distinction between free enterprise and capitalism, is more than a choice of words. As I understand it, Karl Marx's mother, would agree with me. Now, I don't know if this tale is apocryphal, but she was once quoted as saying: "If my Karl, instead of writing so much about capital, had just made more of it . . . well, that would have been a good thing." Be that as it may, we all know that one of Marx's recurrent predictions - was what he saw, the inevitable death of capitalism. Oddly enough, I believe that he and Frederick Engels, have been proven correct by recent events. But for totally different reasons. In the past, companies that possessed, or had access to those limited resources, like capital, were fated to be winners. But, no more.

Today, capital is generally available, and relatively cheap. It is still an important commodity, of course. And access to global capital markets, remains essential to our business success. But it no longer determines, the standard of living of nations, or the business success of companies.

The genius of business, is the responsible free market of ideas, resources, and capital, in fulfilling the desires and needs, of consumers and customers.

That is what I mean, by free enterprise. So, we have a staggering rate of change, coupled with the massive economic power, unleashed by free enterprise. A third critical force, which will shape our business in the future, is what I'd call, the "quiet revolution" of the 20th Century. A phenomenon, that is not well understood, and mostly, unrecognized.

Since the first days in bazaars in Mesopotamia, and across the Middle East - all the way through the ages, and up to just a couple of decades ago, demand for goods and services, generally, exceeded their supply. This was particularly true in America - and in the developed world - after the end of the Second World War.

Slowly, in the latter part of the last century, in industry after industry, this fundamental paradigm, shifted. And now, for the first time in our history, the predominant reality, is that supply exceeds demand. This change, was brought about by many factors. Among them:

• The eradication of barriers to entry in most product categories.
• An explosive increase in technological capabilities.
• Increases in productivity, and more productive use of resources.
• Readily available cash and human resources.
• The Internet, which has, and will increasingly help support - the excess supply business environment.

Now, the change from excess demand, to excess supply, is no small shift. In fact, it is a seismic change, one that has brought about, a new business world order. Because the most important relationship in commerce - the one between providers and consumers - has been forever altered. The 10,000-year war, between consumers and providers of goods or services - is over. Consumers, have won.

Not all businesses, understand this. But the new reality, is simple and clear: to succeed in the 21st Century, all businesses, must put the customer, in the driver's seat.

Fourth, the natural forces of free enterprise, drive to eradicate all barriers. In this case, geographic boundaries as well. This is the phenomenon of the global market place. The ideal alignment of resources, the means of production, and natural consumer markets, are totally blind to national limits. The drive toward optimizing the efficiency of markets, and the alignment of resources, is a powerful one. Free enterprise on a global scale - As any human enterprise - has two sides.

On the negative side, it has spurred local corruption and too often, it has been abused and lined the pockets of a few at the expense of employees and consumers. On the positive side, free enterprise has helped narrow the gap between the rich and the poor. It has also helped diminish discrimination - both race and gender. Yes, the "free enterprise referees", must play catch-up, with the expanded game. But this fundamental trend toward global commerce, is irreversible. And, at its core, globalization is a healthy phenomenon, all around. A fifth factor, that will forever shape the world we live in, is neither a trend, nor an economic imperative. It's an epochal event, that took place back in 1945 - the invention of the atom bomb. A technological marvel, and one of the most significant events, in human history.