Economics of Abundance - Continuations. Economics of Abundance A little while ago, I read Cory Doctorow's “Down and Out in the Magic Kingdom" (on DailyLit of course).
In the book, he has the concept of Whuffie, a reputation-based currency that has replaced traditional money in a world of abundance. Since then I have been thinking about whether we might possibly be headed towards a scenario in which we have so much of everything that we can choose to or maybe even have to use mechanisms other than traditional monetary cost/price for making decisions.I believe it is worth spending more time thinking about this for two reasons.
First, when it comes to digital goods, we have essentially reached a state of negligible marginal cost (the cost of making and distributing an additional copy). This is already driving some profound changes. Eric Hobsbawm: Socialism has failed. Now capitalism is bankrupt. So what comes next? The 20th century is well behind us, but we have not yet learned to live in the 21st, or at least to think in a way that fits it.
That should not be as difficult as it seems, because the basic idea that dominated economics and politics in the last century has patently disappeared down the plughole of history. This was the way of thinking about modern industrial economies, or for that matter any economies, in terms of two mutually exclusive opposites: capitalism or socialism. We have lived through two practical attempts to realise these in their pure form: the centrally state-planned economies of the Soviet type and the totally unrestricted and uncontrolled free-market capitalist economy. Internationalization. In economics, internationalization has been viewed as a process of increasing involvement of enterprises in international markets,[1] although there is no agreed definition of internationalization[2] or international entrepreneurship.[3] There are several internationalization theories which try to explain why there are international activities.
Entrepreneurs/Enterprises[edit] Those entrepreneurs who are interested in the field of internationalization of business need to possess the ability to think globally and have an understanding of international cultures. By appreciating and understanding different beliefs, values, behaviors and business strategies of a variety of companies within other countries, entrepreneurs will be able to internationalize successfully. Art (sort of) imitates life.