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However, studies show that despite the convergence of income and divergence of information technology, consumer choices are increasingly irrational.
"Within the context of a $3 trillion global market in information technology, consumer is $250 billion," said Mr. Dell.
In 1900, no one could foresee that a century later, health care, finance, information technology, consumer electronics, hospitality, leisure and entertainment would employ far more workers than agriculture.
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In terms of sector preference, we like information technology and consumer discretionary industries.
In the broader market, materials, information technology and consumer discretionary shares declined less than 1 percent.
The sectors with a high percentage of their companies on this list are telecommunications services, industrials, utilities, information technology and consumer discretionary products.
Even today, industries like pharmaceuticals, information technology and consumer goods, which do not need many licenses and official approvals, are prospering.
Today, open source software plays a significant role in information technology and consumer electronics.
The PC industry has been in the dumps for several quarters partly because of the downturn in information technology and consumer spending, but also because there's no good reason to buy a new computer.
True, businesses did clamp down on spending in 2008, but for the past two years they've been investing heavily in information technology, while consumers, who have supposedly rediscovered the virtues of frugality, are snapping up smartphones and iPads.
As information technology advances, consumers now have more information than ever on what businesses do to whom and why.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com