Back in its early days, when adolescent rhetoric was the lingua franca of the faithful, people simply assumed the Internet would be economically empowering, that it would somehow usher in an economic utopia. Several stock crashes and a zillion bankruptcies later, with libertarianism in ruins and capitalism on the brink - and with Web 2.0 enterprises like Facebook still unable to make a dime - we should know in our bones that's not the case.
In fact, people are finally beginning to come to terms with the way in which the Internet actually destroys value rather than creates it. Indeed, the web may be the most efficient wealth-destruction machine ever devised. This was always the flip side of its immense efficiencies; the Internet made economic processes far less expensive, true, and cut out middlemen hither, thither and yon; but it also undercut the physical framework that made "value" possible.
Monday, April 20, 2009
Can We Make Money Off This Blogging Thing?
Thomas Garvey says, keep dreaming...