The books show that frugal innovation is flourishing across the emerging world, despite the gurus' failure to agree on a term to describe it.

ECONOMIST: Frugal ideas are spreading from East to West

Today they are flourishing in the emerging world's dynamic economies and striding out onto the global stage.

ECONOMIST: The East India Company

With the expansion from women's clothes to take in wallpaper, furniture, bedding, lampshades and bath products, the business and its 500 shops across the world seemed set for a flourishing future.

BBC: Laura Ashley shop

But they have not just survived in the modern world: they are flourishing.

ECONOMIST: I promise to do my best (if I can find the time)

"We will not appeal the Court of First Instance's decision to the European Court of Justice and will continue to work closely with the commission and the industry to ensure a flourishing and competitive environment for information technology in Europe and around the world, " Microsoft said in a press release on Monday morning.

FORBES: EU's Hard Line Cows Microsoft

And they are flourishing in the dynamic markets of the emerging world, which have been growing at an average of 5.5% a year against the rich world's 1.6% over the past few years and are likely to account for half the world's GDP by 2020.

ECONOMIST: The visible hand

Plenty of small independent record labels are flourishing, supported by plenty of music-lovers, not to mention the brave new world of downloading from the internet.

ECONOMIST: Classical music