—“In search of the perfect market,“ The Economist, May 10, 1997
—Howard Fineman, “The Microsoft Primary,“ Newsweek, May 19, 1997
The conference provided some people with their first exposure to Newtonion economics — which appears to be the information-age equivalent of Ronald Reagan‘s trickle-down economics. It is called “friction-free capitalism.“ ...
Nathan Myhrvold, chief technologist at the Microsoft Corporation, noted that one can now order custom-fit blue jeans directly from the manufacturer. Such “friction-free capitalism is going to create new business models and dramatically restructure some businesses,“ Mr. Myhrvold said, just as the distribution efficiencies of Wal-Mart are having a profound impact on small stores in scores of communities.
—Peter H. Lewis, “Technology,“ The New York Times, August 28, 1995
Fifth Amendment capitalist