The Innocence of Power Laws

I've been reading a short book - an essay, really - by John Kenneth Galbraith called The Economics of Innocent Fraud. It's his last work, written while he was in his nineties, not long before he died. In it, he explains how we, as a society, have come to use the term "market economy" in place of the term "capitalism." The new term is a kinder and gentler one, with its implication that economic power lies with consumers rather than with the owners of capital or with the managers who have taken over the work of the owners. It's a fine example, says Galbraith, of innocent fraud.

- Nicholas Carr Rough Type: The Great Unread

I've long argued that the "natural" shape of most markets is a powerlaw, and that any deviation from that shape is due to some bottleneck in distribution. Get rid of the bottleneck and you can tap the latent demand in the market, unlocking the potential of the Long Tail.

- Chris Anderson The Long Tail: A billion dollar question

Many have noted the irony that my book on niches appears to be a hit. It will enter the NYT Bestseller list this week at #13 (moving up to #10 next week) and is already #14 on the WSJ bestseller list (moving up to #11 next week). I can live with that irony!

- Chris Anderson The Long Tail: The Long Tail economy

Rosen's answer could not possibly have been more honest. The best way, by far, to get a link from an A List blogger is to provide a link to the A List blogger. As the blogophere has become more rigidly hierarchical, not by design but as a natural consequence of hyperlinking patterns, filtering algorithms, aggregation engines, and subscription and syndication technologies, not to mention human nature, it has turned into a grand system of patronage operated - with the best of intentions, mind you - by a tiny, self-perpetuating elite. A blog-peasant, one of the Great Unread, comes to the wall of the castle to offer a tribute to a royal, and the royal drops a couple of coins of attention into the peasant's little purse. The peasant is happy, and the royal's hold over his position in the castle is a little bit stronger.

- Nicholas Carr Rough Type: The Great Unread

Part of the reason the book is successful, I believe, is because as I was writing it the smart readers of this blog helped improve the ideas, catch my errors and suggest dozens of applications and dimensions of the Long Tail I never would have thought of myself. So today's recognition is also a recognition of the power of tapping collective intelligence. I couldn't have done it without you!

- Chris Anderson The Long Tail: A top ten bestseller!