In the book we’re working on right now, we make the argument that capitalism is evolving because the environment in which it is situated is changing in fundamental ways. Regarding the latter, we point to some well-documented and broadly perceived shifts in the geography, demography, and technology of global economic activity. There’s another shift in the context of capitalism we think is true, too, though it doesn’t get the same practiced head-nodding: it’s the fact that capital used to be scarce and now is abundant. It’s hard for us to gauge if this is an obvious point or not to people.