A new Indian restaurant had opened within walking distance of where we live. We, actually, discovered it on the day of its inauguration ( Muhurta). The owner politely told us to come back the next day. We did. We were fifth in the queue on a long line outside the restaurant. A phone call came in from an acquaintance. The call was a good way to pass an hour-long wait. We would have certainly left the queue otherwise.
An economic activity has one more of the following impacts Wealth creation - for example, processes like extraction of oil, capturing solar energy and even repairing a broken device. Wealth transfer - for example, processes like selling a good, taxes and bribery/theft, though the last one is usually illegal. Wealth destruction - for example, processes like hurricanes, wars and riots. Most developing/underdeveloped countries usually lack sufficient wealth creation, butĀ it does not stop there....
The book provides a nice summary of economic events of the recent past (~50 years) and builds upon the case for the coming 10 years. The book is divided into 14 different chapters coveringĀ emergingĀ as well asĀ frontierĀ nations, the latter being less liquid and smaller than emerging.