/biz/ - Business & Finance

/XMR/ general weekly book club - WEEK 3

This is the second week of the book club. This week we continued by reading chapters 7 & 8 of the book "The Sovereign Individual" by Sir William Rees-Mogg and James Dale Davidson.

Now onto brief description of the chapters:

>Chapter 7: Transcending locality: The emergence of the Cybereconomy
>The information economy is not like a highway, a railroad, or a pipeline. It does not haul or transport information from point to point the way the Trans-Canada Highway carries heavy trucks from Alberta to New Brunswick. What the world calls the “Information Superhighway” is not merely a transit link. It is the destination.
This chapter is mainly spent elaborating how the authors imagined the Cybereconomy will look like. It does make many startling predictions (for example the prediction of cybercash, though still naively pegged to gold). However, the more important aspect is the application of the shifted logic of megapolitics. In essence, in a world where transit is low-cost, protection of assets is cheaper with the cost of organized violence is rising, and relocation is cheap without consequence as to aforementioned assets or connections, physical locality no longer matters as much and new forms of economic organizations are bound to replace the large-scale Industrial operations of the bygone age.