When we did our first TIME 100 issue, which looked at our century's greatest leaders, I came to the conclusion that an era is shaped by the people who push its political ideas, such as fascism and communism, democracy and liberty. Then, when we picked the 20 most influential artists, I began to believe in the lasting power of cultural innovations, such as movies and television, jazz and rock. Now that we're dealing with business titans, I realize that economic initiative is what transforms us, from Henry Ford's assembly line to Bill Gates' software. Stay tuned: no doubt when we do our next issue in a few months, I'll conclude that it's actually scientists and thinkers who most shape a century.
When you look at the business people we've chosen, you can track how our economy has evolved in a hundred years. First it was driven mainly by industrial production, then by service industries and now by information and knowledge. You can also see how centuries are affected by technological advances. The 19th century produced the railroads, the telephone and electricity. The five most important ones of this century are the mass-produced automobile, the airplane, television, the computer and the Internet. (Be sure to see our gatefold of great products on page 139 and our time line on page 103.)
But there is, to me, an even more fascinating evolution. Starting with Ford's assembly line, the 20th century was the first in human history that was shaped by mass manufacturing. Instead of the tailored and crafted products of previous centuries, we were blessed (and sometimes cursed) with products that were mass-produced based on standardized designs, mass-marketed through new forms of mass media and spewed forth in cookie-cutter form from big factories and studios. This included not only consumer goods like Ford's cars, but everything from William Levitt's suburban homes to David Sarnoff's nationally broadcast shows to Ray Kroc's Big Macs. Mass production made all sorts of stuff, from toothpaste to TVs, more affordable, but it also led to a certain conformity. And because of economies of scale, it had a centralizing effect: power shifted from local craftsmen, shopkeepers and family-run businesses to big factories, chains and corporate conglomerates.
But now we're seeing a reverse tectonic shift. The digital revolution is starting to decentralize power and production, which permits more garage-based entrepreneurs and small businesses. It is also creating more tailored and personalized products, ranging from jeans and shoes shaped just for you to steel and widgets crafted for specific purposes. This is especially true in the information and entertainment industries: enterprising producers can make and distribute their own news, music, videos, recipe tips and political opinions; meanwhile, consumers can tap into (and sometimes even personally tailor) an exploding array of websites, information sources, entertainment options, cable channels and opinion outlets to suit their tastes and biases. What's gained is more personal empowerment and decentralized control. What may be lost is the bonds that come from sharing a common ground of ideas and experiences, and also the ease and comfort that come with conformity.