The Overlooked Economics of Technology
A box without hinges, key, or lid. Yet golden treasure inside is hid!
—JRR Tolkien
There have been a number of previous instances where talk of a “new economy” has emerged, only for the suggestion to be shot down wholesale when the subsequent market crash arrived. This condemns the valid observations to get buried in the frenzy of retroactive rejection, hedging, and caveats. More specifically, the missing ingredient in most prior debates and analyses of technological economics is a sufficient examination of the technology-driven convergence of previously unrelated forces.
We have established earlier that while people have grown accustomed to seeing all forms of consumer technology continuously ...
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