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Age before beauty?

By David Carter (December 2007 Issue)
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“Greed is good,” said Gordon Gekko in the film Wall Street, defining the economic boom of the late Eighties where cash was king for tycoons on the make. Fast forward 20 years and one may think, what has changed? London may have replaced New York as the world’s financial capital and the red braces have been ditched for something more understated but, for those of us in London, we live in a world where one-bedroom flats sell for a million pounds and £100,000 sports cars clog the streets.

Yet if you look more closely, you can see that business has changed beyond recognition. In 1987 a fax was as current as it got, the internet being a mere pipe dream. Mobile technology was limited to telephones the size of house bricks and markets such as India and China were known only as producers of sweatshop goods. The boards of most companies were made up of an old guard of company men who had worked their way slowly to the top: a safe pair of hands. In a market dominated by long-established blue-chip firms, dynamism was not of the greatest importance.

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