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Showing posts from April, 2011

Scarcity, Abundance, and the Knowledge Economy. Tightened Up.

Blogger A^3 spent a little time pondering my writings on Intellectual Property and the Knowledge Economy here. I thought I'd offer my response to his post here as well, as I thought it tightened up some of my earlier writings on the subject.

Also, it's a shame to waste that much decent writing in a comment response. Thanks again A^3. My response follows:
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A^3:

Thanks for speaking well of my blog posts. I'm very glad that more and more people are giving thought to these issues.

I think the key point when talking about that which can be meaningfully measured by economics, is that the Supply/Demand curve is based on *scarcity*, and in a world where *scarcity* is mostly artificially induced (via copyright and patent), the system is fighting a losing battle to cram 21st century ideas of production into 20th century framework of capitalism and property. The problem with the 21st century is dealing with *abundance* not *scarcity*, and traditional capitalism is a tool to alloca…