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.
Feature parity
Whilst Feature Parity often sounds like a reasonable proposition, we have learnt the hard way that people greatly underestimate the effort required, and thus misjudge the choice between this and the other alternatives. For example even just defining the 'as is' scope can be a huge effort, especially for legacy systems that have become core to the business.
Most legacy systems have 'bloated' over time, with many features unused by users (50% according to a 2014 Standish Group report) as new features have been added without the old ones being removed. Workarounds for past bugs and limitations have become 'must have' requirements for current business processes, with the way users work defined as much by the limitations of legacy as anything else. Rebuilding these features is not only waste it also represents a missed opportunity to build what is actually needed today. These systems were often defined 10 or 20 years ago within the constraints of previous generations of technology, it very rarely makes sense to replicate them 'as is'.