Overall, public and private interactive networks could be a more powerful force for change than the computer, the railway, or the small electric motor, forming a “teleeconomy”, under a set of rules that form “electronic capitalism”. In this second of two articles (for the first see foresight, Vol 2, No 1, February 2000) consequences of the emerging economic behaviours laid out in the first article are examined. First, the new rules are explored in detail. They describe the dynamo of electronic trading and the characteristics of a specific form of capitalism. The article then considers impacts of the tele‐economy on sectoral balances, economic power and wealth distribution. Lastly, the new players – the electronic tiger – and the safeguards required are examined. The hub of the dynamo will be in the developing economies where some four billion new global consumers await economic enfranchisement via personal investment, as well as access to new consumer markets and electronic work channels.
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