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Econ Talking… March 31, 2007

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Really enjoy Russ Robert’s podcast from the Library of Economics and Liberty and in particular his interview with Kevin Kelley recently.

My particular favourite point was the concept that if you went back 6 years or so and spoke to people about the development of the web – encyclopedia’s, weather, maps, email, blogs, wikipedia and also stated that the majority of this would be free, most people would think you were nuts!

It also seems to go beyond the usual economic formulas where we assume we are all motivated by greed… its nice to look back in this way and see people motivated by content, love, pride, knowledge…

Of course some are monetised by advertising and somebody has to pay for the basic infrastructure but rather than being the driving force in the majority of cases its the enabler to demonstrate ‘cleverness’ and have other people use your stuff.