Economic Frictions (and Capital Letters?)

Not sure what they have against capital letters but headmap: augmented capitalism raises some good points about the potential lessening of economic frictions in a digital economy: bq. money was predicated on spatial constraints bq. the range of currencies is infinite and the money is intermediary between them bq. hats are currency, butter is currency, bq. they get filtered through money (so that ..hats can buy butter at another place and time) bq. the friction that transportation and distribution and communication among those who would exchange created the right climate for money bq. the internet is doing some disturbing things bq. it is creating currencies and ecoonomies with no money intermediary bq. link economies, peer two peer file sharing economies and software development and exchange economies bq. this seems to suggest that in the absence of friction money makes less and less sense bq. in fact in the current climate many things are starting to make less and less sense bq. and these network economic anomalies will soon slip into the real world bq. destroying huge industries based on friction difficulty seperateness and centralisation bq. as exchange without money becomes more efficient and reliable bq. money won't disappear but will have to start living in parallel with vibrant, aggressive efficient parallel economic forces bq. the moves towards hardware level copyright controls and crippling copyright legislation bq. seem more and more like attempts to artificially introduce friction into a system that by its nature is able to remove it entirely bq. there seems to be the fear that money itself may be on the verge of collapse and that only a radical lockdown can save a civilisation with money at its heart bq. capitalism is being augmented at a frightening speed Posted by Abe at April 25, 2003 05:23 PM | TrackBack