Thursday, September 21, 2006

On the economics of networks and collaboration

Yochai Benkler argues that "online cooperation is spurring a new mode of production beyond the two classic pillars of economics, the firm and the market. 'Peer production,' as he calls work such as open-source software, file-sharing, and Inc.'s (AMZN ) millions of customer product reviews, creates value with neither conventional corporate oversight nor market incentives such as payment. 'The economic role of social behavior is increasing, he says. 'Things that would normally just dissipate in the air as social gestures become economic products.'" More here.

How about that for the evolution of economy? Freakonomics? World is Flat? Tipping Point? And the list goes on and on.

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