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  1. #1
    Gird your loins Daisy Hill's Avatar
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    12.14.17 @ 05:44 PM
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    Default the end of capitalism...the zero marginal cost society and the internet of things

    heard this on Diane Rehm yesterday and was fascinated...listen here

    http://thedianerehmshow.org/shows/20...nternet-things

    this concept has already rocked the newspaper business, recording industry and book publishing and has affected education in the availability of online free coure work...now with 3-D printing it is projected to pick up steam with other industries

    "While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces."

    http://www.huffingtonpost.com/jeremy...b_5064767.html

  2. #2
    Atomic Punk lovemachine97(Version 2)'s Avatar
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    12.15.17 @ 08:06 AM
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    In 2005, this guy wrote that "depleting resources, increased pollution, rising costs of production, spiraling inflation, low return on investments, escalating capital shortfalls and limits to technology" will cause the fall of America and the European Union would reign supreme (he's an advisor to the EU, btw). His true hatred in that book, The European Dream was that Americans associated private property with freedom.

    In '06, he wrote an Op/Ed about how there are just too many people living in cities, and we have lost touch with nature, and we must "reintegrate" into the Earth to save our species.

    Not sure I am buying this argument. This article, published a few days ago, seems timely http://reason.com/archives/2014/03/24/the-3d-economy

  3. #3
    5150
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    12.05.17 @ 03:19 AM
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    Default

    Quote Originally Posted by Daisy Hill View Post
    heard this on Diane Rehm yesterday and was fascinated...listen here

    http://thedianerehmshow.org/shows/20...nternet-things

    this concept has already rocked the newspaper business, recording industry and book publishing and has affected education in the availability of online free coure work...now with 3-D printing it is projected to pick up steam with other industries

    "While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces."

    http://www.huffingtonpost.com/jeremy...b_5064767.html
    I work in the publishing business and I get a little tired of people continuously saying that it (and other entertainment businesses) is on its knees due to the relentless march of technology when the reality is that publishing is growing its profits steadily thanks to new revenue streams like e-books. Authors' backlists have suddenly gone from being catalogue items for special order to being major sources of income for both writers and publishers; for example, last year, my (albeit relatively small) backlist accounted for a huge chunk of my sales simply because of the ease of availability that comes with new technology.

    I remember back in the 90s when the idea of selling music digitally online was heralded as the great leveller that would free musicians from the money-grubbing gatekeepers of the record labels. It didn't quite work out like that. In fact, it simply solidified the labels' power over the marketplace, and introduced a few new players at the top of the food chain. The corporate behemoths just got a bit more behemoth-y.

    Likewise, I get tired of people saying how iTunes and MP3s have wiped out physical formats when in reality more than two thirds of all albums are still sold on CD, and vinyl sales are growing year on year.

    New technologies certainly do open up new paths into various industries, particularly those that rely on content creators, and those industries are undergoing constant changes in response to the shifting marketplace. But the idea that they're going to be swept away by technology is a fallacy that's being peddled by too many people with axes to grind and agendas to push.

    The one area of our economies that has suffered gravely, however, is retail. People assume that the demise of the traditional record shop or bookstore means the end of physical products, but the truth is most stuff is still bought in the form of paper or discs, it's just being ordered online instead. Which saddens me because I love bookstores and record shops (but there's a brighter side to that with the rise of smaller independents in place of the big chains that have fallen).

    Piracy is the greater concern for those industries, and it's a whole other debate, and one which I have strong feelings about. That side of the economy is lining the likes of Google's pockets, as well as those of hardware manufacturers, and the occasional thieving parasite like Kim Dot Com. While some regard illegal downloading as a way of sticking it to the corporations, it's really just making profit for a different set of corporations, while as usual the creators get the shitty end of the stick.

    For me, the future geopolitical landscape has more relevance: the real possibility of dwindling land resources, food shortages, displaced populations, and international instability will have more potential impact on the economics of the coming decades than advances in Internet technology.

    Anyway, Jesus, I didn't think I'd be getting that heavy just logging in to look at the Funny Pics thread...
    HERE AND GONE by Haylen Beck (Stuart Neville writing as...) - "It doesn't get better than this." - Lee Child, "Highly recommended." - Harlan Coben, "Cancel all your plans and settle in for the ride." - Ruth Ware, "This is a book that lives up to the buzz." - Alafair Burke

    Summer 2017 UK & North America

  4. #4
    Good Enough pickslide's Avatar
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    12.14.17 @ 01:09 PM
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    Quote Originally Posted by lovemachine97(Version 2) View Post
    In 2005, this guy wrote that "depleting resources, increased pollution, rising costs of production, spiraling inflation, low return on investments, escalating capital shortfalls and limits to technology" will cause the fall of America and the European Union would reign supreme (he's an advisor to the EU, btw). His true hatred in that book, The European Dream was that Americans associated private property with freedom.

    In '06, he wrote an Op/Ed about how there are just too many people living in cities, and we have lost touch with nature, and we must "reintegrate" into the Earth to save our species.

    Not sure I am buying this argument. This article, published a few days ago, seems timely http://reason.com/archives/2014/03/24/the-3d-economy
    People have been arguing these sorts of things for years, and it almost always hinges on a bunch of false premises. "Experts" have been predicting peak oil for decades, but every time they say it, the number of barrels of oil left goes up. Pollution increases brought on by population increases are often offset or at least mitigated by technology. "Escalating capital shortfalls" sound like an emotive fallacy. What does that even mean? Rising costs of production? Sure, in some cases. In others, not so much. Spiraling inflation? Again, not a monolithic thing. And certainly not the worst you've seen if you lived through the 70s.

    This is Chicken Little stuff. There will be booms and busts as always, some more severe than others. And the severe ones are usually fueled by government intervention, not rampant "private property". People often confuse things changing with things "collapsing." It's human nature, as the fairy tale demonstrates.

    TK

 

 

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