American and probably world financial institutions continued to reel today as an outcome of the credit collapse that began with the sub-prime mortgage mess. Because primary and secondary mortgages and other forms of personal and institutional debt were completely essential for whatever economic strength the old economy has shown since 2001, it seems probable to me that the latest failures are just a harbinger of worse money-economy times to come. However this plays out in […]
As readers of this blog already know, I first came up with the phrase “Attention Economy” to describe the entirely new kind of economic system that I see as increasingly dominating our lives. It is an economy in the sense that it involves allocating of what is most scarce and precious in the present period, namely the attention that can come to each of us from other human beings. As you also know, ever since […]
A couple of years ago, the philosophy professor Harry Frankfurt made publishing history of a sort by allowing his 7,000-word paper “On Bullshit” — which lives up pretty well to the second word in its title — to be published as a book. Bind some printed pieces of paper together, preferably in hard covers, distribute them via bookstores, at a cost of around $20, and voila, you have a book. If you choose not buy […]
1. Howdy, Pardner! Andrew Keen, in his diatribe, the cult of the amateur: how today’s internet is killing our culture, claims to be mainly concerned about “Web 2.0,” though he lards his list of ills with e-mail spam, phishing, online porn and gambling, which don’t really fit. The Internet at present is somewhere between a wild west, a playground, and an experimental laboratory. All sorts of things get tried, standards are few and unevenly enforceable, […]