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A World Beyond Markets
Video

A World Beyond Markets

Jeremy Rifkin
RSA, 2014
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Editorial Rating

9

Qualities

  • Eye Opening
  • For Beginners
  • Engaging

Recommendation

The Internet democratized traditional media, and many publishers, newspapers, record producers and entertainment firms collapsed in the ensuing upheaval. Politic adviser Jeremy Rifkin explains the economic factor that led to this phenomenon and predicts that the manufacturing and energy industries are ripe for a similar overhaul. Rifkin delivers his thesis in an eloquent, accessible manner. While his ideas will intrigue a broad audience, getAbstract recommends his candid report especially to economists and to stakeholders in energy production and manufacturing.

Take-Aways

  • Producers continually seek new technologies to reduce marginal cost – “the cost of producing an additional unit of a good or service once…fixed costs are absorbed.”
  • Economic theory says marginal cost is “the optimal efficient state at which to price a good or service.” Yet in many industries, such as the traditional media, the Internet has brought marginal cost close to zero.
  • Due the convergence of the conventional Internet with a budding energy internet and a logistics and transportation internet, the zero marginal cost phenomenon is now primed to hit manufacturing and energy production.

About the Speaker

Political adviser Jeremy Rifkin is president of the Foundation on Economic Trends.

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