ACHTUNG! UNDER CONSTRUCTION
market failure---The anatomy of an economic storm is mysterious, and could be dangerous and Calypso-like. Here in the Information Age it is much ado about goods/bads known as data/information and how it is “processed” both locally and globally. Characteristics of asymmetric informational waves including embargo/speed of travel, static and time distortions are of great importance here. And trading “bands” and exchange rates come to mind along with rate “fixing”, patent and copyright lawsuits and “measurement” of wealth. There are plenty of negative externalities and there are great increasing returns to scale, particularly in the large data, information, knowledge and wisdom “industries” which may be monopolies, oligopolies and may exhibit positive externalities. Of particular observance and concern to the geek is the concept of rounding and adding and subtracting percentages, which may not add up right with the data collection methods in use and the technology at hand. This is the “infrastructure”, at least at this time. Weather it will help to find a good spot for all to land safely in the real physical world is the real question at hand. The geek is hopeful the algorithms will eventually get the big picture about how to best get the mates to participate in "things" they enjoy , and therefore have a comparative advantage in.
market failure---The anatomy of an economic storm is mysterious, and could be dangerous and Calypso-like. Here in the Information Age it is much ado about goods/bads known as data/information and how it is “processed” both locally and globally. Characteristics of asymmetric informational waves including embargo/speed of travel, static and time distortions are of great importance here. And trading “bands” and exchange rates come to mind along with rate “fixing”, patent and copyright lawsuits and “measurement” of wealth. There are plenty of negative externalities and there are great increasing returns to scale, particularly in the large data, information, knowledge and wisdom “industries” which may be monopolies, oligopolies and may exhibit positive externalities. Of particular observance and concern to the geek is the concept of rounding and adding and subtracting percentages, which may not add up right with the data collection methods in use and the technology at hand. This is the “infrastructure”, at least at this time. Weather it will help to find a good spot for all to land safely in the real physical world is the real question at hand. The geek is hopeful the algorithms will eventually get the big picture about how to best get the mates to participate in "things" they enjoy , and therefore have a comparative advantage in.