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The founder of Wikipedia, Jimmy Wales, was inspired by Hayek's essay..."The Use of Knowledge in Society". The basic concept is that markets utilize information that is dispersed throughout society. Wales used this critique of socialism (centralized allocation, top down control) to create a website that makes it easy for the crowd to share its partial knowledge. Wikipedia works because it's based on a solid economic concept. Not that there aren't a few glitches though.
The internet of the future will also be based on a solid economic concept. The concept is that actions speak louder than words. Talk is cheap so what people do should be given far more weight than what they say. It's pretty much the opportunity cost concept.
Here are some of my recent blog entries on the topic...
- Opinions (Shouting) vs Values (Spending)
- Block vs Flow
- Shallow vs Deep Input
- Flowcilitation
- Crowd Flowcilitation
Neither the internet nor the government reflects an understanding of this concept. This will eventually change. My preference is for it to change sooner rather than later. So here I am.
The primary objective of this entry is to try and facilitate this change. If people can understand why it's necessary to clarify the demand for web pages...then they should also be able to understand why it's necessary to clarify the demand for public goods.
The secondary objective of this entry is to formally stake my claim to this intellectual property.
