cratic governance', developed nation states have high running costs that are a consequence of quality of life expectations compounded by other factors such as a perceived need to defend themselves or a usually misplaced desire to invade other nation states. In this context the concept that any developed nation state can survive as a predominantly service economy must be open to question. By implication the UK needs a broadband technology economy rather than a broadband service economy. A broadband technology economy should be intrinsically efficient at realising a return on legacy R and D and manufacturing investment. 5 Mr Kanwar Chadha speaking at the Future Wide Area Wireless Conference 27 January 2011. Wireless Radio Access Network Hardware So back to the assumption that universal broadband connectivity will drive future economic growth. This is almost certainly true but the problem is that we have no obvious way of getting to where we need to be. The return on investment is not sufficiently attractive to bring in private investment and public cash is not presently a viable alternative. The UK has the advantage of a one hundred and fifty year legacy of telecommunications R and D and manufacturing investment. It therefore makes obvious sense to couple broadband connectivity investment policy with telecommunications industry investment policy. Countries such as Germany, Canada, France, Italy and the US are in a similar position. An economic model that somehow aligns and combines these interests is probably the best and possibly only way forward. 12.7.5 The Role of Telecommunications in Emerging Economies In emerging countries, telecommunications has a different though no less profound role to play. The provision of microtrading and microfinance over cellular networks discussed in Chapter 11 is one example of the potentially transformative power of low-cost and not necessarily broadband connectivity. 12.7.6 The Telecommunications Economy - A Broader View of Broadband It is therefore useful not to get overfocused 