Most economic debate so far has failed to recognize that, in the new global economy of round-the-world capital markets, with worldwide sourcing of companies, the critical determinant of a nation's industrial success is the skills and talents of its people. Where 200 years ago capital was the scarce resource, with labour simply a commodity (employees virtually interchangeable), now capital is a global commodity and highly skilled labour is the critical resource. The pathway to national prosperity is one of education, skills and continuous retraining. It is not the white heat of technological revolution that matters as much as the liberating potential of the learning revolution. In this way we move from traditional capitalism -- which implies the dominance of capital in wealth creation -- to an economics based on people.