One of the most striking developments has been the rise, fall and rise again of the semiconductor industry of the United States, which is, once again, the dominant player in the most advanced semiconductor product-markets.

Reality is far more complex and messy than many of the grander themes and explanations would have us believe.

One of the most striking trends, since at least the 1960's, has been for employment in services to grow far more rapidly than employment in manufacturing. It is this trend that has led to the view that developed economies have become de-industrialized and that they are now effectively service economies.

Transnational corporate networks, and their resulting spatial patterns, are always in a continuous state of flux. At any one time, some parts may be growing rapidly, others may be stagnating, others may be in steep decline.

The primary driver of final consumer demand is, of course, the level of disposable income.

One of the most striking developments has been the rise, fall and rise again of the semiconductor industry of the United States, which is, once again, the dominant player in the most advanced semiconductor product-markets.

Without the parallel development of systems of monetary - and credit-based exchange - there could have been no development of economies beyond the most primitive organizational forms and the most geographically restricted sales.