Work itself had changed. It was in the 1970's that American businesses quietly packed some of their bags and slipped off overseas to take advantage of lower taxes and wages. It was then that imported manufactured goods swept American shores. And, it was in 1976 that Apple Computer perhaps, my best (but by no means - only) example of the monumental changes taking place, was founded. They developed the first home computer and sales took off one short year later. At the beginning of 1977, Apple was valued at $5,309. By the end of 1980, the now publicly traded company was valued at $1.8 billion - more than Ford Motor company and other earlier giants of industry. And so, ready or not, the boom time of America's industrial age was sliding into history by the end of the 1970's and neither work nor we would ever be the same. Did you notice the changes as far back as the '70's? Do you now, today, believe that these changes have altered our social and economic destiny?

And, where is Ford Motor today? Laying off again, according to the news a few short weeks ago. Apple? Well, they are back for round two of leveraging technological change. Of course, there is more to this story than a simple paragraph or two suggest. Pick up David's book if you are eager to see the big picture.

GOTHAM CITY, Circa 2006

Once upon a time, Gotham’s private sector was a sturdy mix between port, manufacturing and Wall Street. As time went by, the manufacturers moved south or overseas and the port became pretty much a memory. Today, Wall Street accounts for about 5% of the city’s jobs but the lion’s share of the city’s income. With its single-digit share of employment, Wall Street produced 21% of new jobs and 56% of income growth in the 1990’s. Lawyers, accountants and a raft of folks support their efforts.

Think about these questions as you ponder Gotham’s fate. Is it probable that the 78 million boomers’ peak production years are coming to an end and, as one result, so are our investments in Wall Street? While we were busy investing, as measured by the $4 trillion in assets that flowed into stock mutual funds in 2000, did we forget that the growth (and we) would not last forever? Keep in mind that the next generation, the Gen Xers are only 46 million strong and many in this generation handle their own investments or have switched the bulk of their investment portfolios to the real estate market. Might the good times be coming to an end in Wall Street, in part because there are not enough folks in the next generation to replace our investments?

Is the outlook gloomy or is there a rainbow in here somewhere? What if, as our contribution to the future, we worked longer, thus maintaining our income, independence and continued investment in America? What then?

Might the simple act of working longer give the Millennials, the next large generation now stepping up to the plate, the time and opportunity to gain traction? Will they step up? Will investments be made through Wall Street by the time they mature? Ah… but that’s another part to another story that I’ll begin to tell you another time.