Venice rose to power and great wealth in the Middle Ages not because of its own natural resources or productive capacity—but because it uniquely provided access to the silk, grain, and spices of other lands.
Many of America’s greatest family fortunes can likewise be traced to the railroads that accessed the collective agricultural and industrial productivity of a growing nation—rather than to the farms and factories themselves.
Google serves as a contemporary example of this same principle. Google didn’t generate wealth by producing information, goods, or services. It did so by providing access to those things.
These examples and others highlight a fundamental principle of commerce. Often, the best way to create the most wealth isn’t to produce a limited number of things of value. It’s to provide access to a great number of things of value.
