Tuesday, February 10, 2015

The great internet swindle: ever get the feeling you've been cheated? | Technology | The Guardian

Perhaps time to revisit W. Brian Arthur's theory of increasing returns

"Part of the problem here, argues Keen, is that the digital economy is, by its nature, winner-takes-all. “There’s no inevitable or conspiratorial logic here; no one really knew it would happen,” he says. “There are just certain structural qualities that mean the internet lends itself to monopolies. The internet is a perfect global platform for free-market capitalism – a pure, frictionless, borderless economy … It’s a libertarian’s wet dream. Digital Milton Friedman.”Nor are those monopolies confined to just one business. Keen cites San Francisco-based writer Rebecca Solnit’s incisive take on Google: imagine it is 100 years ago, and the post office, the phone company, the public libraries, the printing houses, Ordnance Survey maps and the cinemas were all controlled by the same secretive and unaccountable organisation. Plus, he adds, almost as an afterthought: “Google doesn’t just own the post office – it has the right to open everyone’s letters.”"
The great internet swindle: ever get the feeling you've been cheated? | Technology | The Guardian
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