economics
Baumol’s cost disease
Small economies
The economic value of old buildings
The mirror-image economy
You cannot consume what is not produced
The Fetish of human life
Avant-Garde and Kitsch
The trend is your friend 'til the bend at the end
The amorality of Web 2.0
An Essay by Nicholas CarrThe Internet is changing the economics of creative work – or, to put it more broadly, the economics of culture – and it’s doing it in a way that may well restrict rather than expand our choices. Wikipedia might be a pale shadow of the Britannica, but because it’s created by amateurs rather than professionals, it’s free. And free trumps quality all the time.
Tokenize This
An Artwork by Benjamin GrosserDifferent from the typical website whose URLs act as persistent indexes to a page and its contents, Tokenize This destroys each work right after its creation. While the unique digital object remains viewable by the original visitor for as long as they leave their browser tab open, any subsequent attempt to copy, share, or view that URL in another tab, browser, or system, leads to a “404 Not Found” error. In other words, Tokenize This generates countless digital artifacts that can only be viewed or accessed once.
Hints towards a non-extractive economy
An Article by Matt WebbThere’s a movement called the circular economy which is about designing services that don’t include throwing things away. There is no “away.”
A non-extractive economy is going to look very different to today’s economy. These points feel opposed somehow but they are part of the same movement:
- With CupClub, it’s all about infrastructure.
- With the battery-free Game Boy, it’s untethered from infrastructure: once manufactured, no nationwide electricity grid is required to play.
We’ll need better tools to track and measure. There will be new patterns for new types of services. New technologies to build new products. New language. So it’s fascinating seeing the pieces gradually come together.
The psychology of a discount
An Article by John MaedaFound on a wall.
The bitterness of poor quality remains long after the sweetness of low price is forgotten.
Premium Mediocre
Cupcakes and froyo
Premium mediocre is the finest bottle of wine at Olive Garden. Premium mediocre is cupcakes and froyo. Premium mediocre is “truffle” oil on anything (no actual truffles are harmed in the making of “truffle” oil), and extra-leg-room seats in Economy. Premium mediocre is cruise ships, artisan pizza, Game of Thrones, and The Bellagio.
Maya Millennial
But the demographic at the very heart of the phenomenon, the sine qua non of premium mediocrity, is the young, gentrifier class of Blue Bicoastal Millennials. The rent-over-own, everything-as-a-service class of precarious young professionals auditioning for a shot at the neourban American dream, sans condo ownership somewhere at a reasonable distance from both the nearest meth lab and minority ghetto.
The essence of premium mediocrity is being optimistically prepared for success by at least being in the right place at the right time, at least for a little while, even if you have no idea how to make anything happen during your window of opportunity. Even if you know nothing else, you know to move to San Francisco or New York and hoping something good happens there, rather than sitting around in some dying small town where you know nothing will ever happen and being curious about anything beyond the town is a cultural transgression. This is a strategy open to all.
What premium mediocre is not
So premium mediocrity is not clueless, tasteless consumption of mediocrity under the mistaken impression that it is actual luxury consumption. Maya Millennial is aware that what she is consuming is mediocre at its core, and only “premium” in some peripheral (and importantly, cheap, such as French-for-no-reason branding) ways. But she consumes it anyway. She is aware that her consumption is tasteless, yet she pretends it is tasteful anyway.
Second the distinguishing feature is that premium mediocrity only signals an appearance of striving upwards. Everybody in the premium mediocre world recognizes that it is not a reliable indicator of actual upward striving, such as number of code commits on github, or non-bot retweets achieved by on a tweet.
In other words, premium mediocrity is dressing for the lifestyle you’re supposed to want, in order to hold on to the lifestyle you can actually afford — for now — while trying to engineer a stroke of luck.