Tyler Cowen previews a portion of his upcoming book, Create Your Own Economy, for Fast Company.
More and more, “production” — that word my fellow economists have worked over for generations — has become interior to the human mind rather than set on a factory floor. A tweet may not look like much, but its value lies in the mental dimension. You use Twitter, Facebook, MySpace, and other Web services to construct a complex meld of stories, images, and feelings in your mind. No single bit seems weighty on its own, but the resulting blend is rich in joy, emotion, and suspense. This is a new form of drama, and it plays out inside us — with technological assistance — rather than on a public stage.
I don’t think he’s talked about it on his site yet, but Tyler Cowen has a new book coming out called Create Your Own Economy: The Path to Prosperity in a Disordered World.
As economist Tyler Cowen boldly shows in Create Your Own Economy, the way we think now is changing more rapidly than it has in a very long time. Not since the Industrial Revolution has a man-made creation — in this case, the World Wide Web — so greatly influenced the way our minds work and our human potential. Cowen argues brilliantly that we are breaking down cultural information into ever-smaller tidbits, ordering and reordering them in our minds (and our computers) to meet our own specific needs.
Create Your Own Economy explains why the coming world of Web 3.0 is good for us; why social networking sites such as Facebook are so necessary; what’s so great about “Tweeting” and texting; how education will get better; and why politics, literature, and philosophy will become richer. This is a revolutionary guide to life in the new world.
I never properly reviewed Cowen’s last book (sorry!), but I found it as enlightening and entertaining as Marginal Revolution is. (via david archer)