MidTerm Economics

Topics: Economics, Costs, Marginal cost Pages: 4 (1008 words) Published: January 20, 2015
Managerial Economics MIDTERM Exam

What changes can you envision to the real economy, should Rifkin’s vision of a zero marginal cost society, become reality?

For me, Jeremy Rifkin is a great social theorist. I’m mostly agreeing with him, with his conclusions and visions of the future economy. They looks like perfect and definitely it’s a “think big” way of delivering the information. His book “The Zero Marginal Cost Society” is must read, of course. Trigger is a zero marginal cost. I’m completely agreed with his “Internet of Things” thoughts. It is sort of intelligence brain. Communication Internet create a new technology platform that connects everything and everyone. Nowadays, there are a lot of platforms, that are connected to each other. You can login to any website with the using of your “Facebook” page, “Google” profile or even “LinkedIn”, if you are looking for a job. At this time, government can see, which type of music I’m listening to, just because I have logged into my “Soundcloud” account with my “Facebook” page. They can trace it easily. Location serviced are also provided with the using of smartphones. Each photo has a geo tag in it. Everything works like a big system. Apple use fingerprints password system and it is connected directly with your iTunes account and usually also to your credit card, because you need to buy something in their online store with your card. So they got a big and very saturated picture of the world that is using its assets like this platforms. This platforms does not have a narrow correlation among each other, but they are connected to each other through intelligence brain that is now fundamentally transforms our way of life. Writing this text, of course I was referencing to the Google search and on the one of the websites, when I was trying to copy some thoughts – a quick pop-up window appeared immediately and offer me to share this quote on the big list of social platforms that are in deal with this source. To...

Bibliography: 1. 2014, The Zero Marginal Cost Society: The internet of things, the collaborative commons, and the eclipse of capitalism, Palgrave Macmillan, ISBN 978-1-137-27846-3
2. March 21, 2014, ‘The Zero Marginal Cost Society’, by Jeremy Rifkin, Review by Richard Waters, http://www.ft.com/intl/cms/s/2/7713c7fc-b07a-11e3-8efc-00144feab7de.html
3. Jeremy Rifkin: "The Zero Marginal Cost Society" | Authors at Google, http://youtu.be/5-iDUcETjvo
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