Monday, May 19, 2014

Jeremy Rifkin - A World Beyond Markets (The Zero Marginal Cost Society)


Jeremy Rifkin's new book is The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism (2014). His previous books include The Empathic Civilization: The Race to Global Consciousness in a World in Crisis (2009) and The Third Industrial Revolution: How Lateral Power Is Transforming Energy, the Economy, and the World (2013).

First up is a talk by Rifkin at The RSA in London and then an Authors at Google talk from April.

A World Beyond Markets

29th Apr 2014; 18:00

Listen to the audio
(full recording including audience Q&A)
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Watch the video (edited highlights)

Has capitalism become a victim of its own success?

One of the world’s most popular public thinkers and political advisors, Jeremy Rifkin, argues that capitalism will no longer be the dominant paradigm in the second half of the 21st century.

Rifkin describes how hundreds of millions of people are already transferring parts of their economic lives from capitalist markets to global networked Commons; “prosumers” are producing their own information, entertainment, green energy, and 3-D printed products; young social entrepreneurs are establishing ecologically sensitive businesses, crowdsourcing capital, and creating alternative currencies in the new sharable economy.

In this era, identity is less bound to what one owns and more to what one shares; Rifkin visits the RSA to explain how we are learning to live together collaboratively and sustainably in an increasingly interdependent global Commons.

Jeremy Rifkin is president of the Foundation on Economic Trends.

Chair: Jonathan Schifferes is a senior researcher with RSA’s Action Research Centre.

Here is the Google Talk Rifkin gave in April on his new book.

Jeremy Rifkin: "The Zero Marginal Cost Society" | Authors at Google

Published on Apr 15, 2014

In The Zero Marginal Cost Society, New York Times bestselling author Jeremy Rifkin describes how the emerging Internet of Things is speeding us to an era of nearly free goods and services, precipitating the meteoric rise of a global Collaborative Commons and the eclipse of capitalism.

Rifkin uncovers a paradox at the heart of capitalism that has propelled it to greatness but is now taking it to its death—the inherent entrepreneurial dynamism of competitive markets that drives productivity up and marginal costs down, enabling businesses to reduce the price of their goods and services in order to win over consumers and market share. (Marginal cost is the cost of producing additional units of a good or service, if fixed costs are not counted.) While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces.

Now, a formidable new technology infrastructure—the Internet of things (IoT)—is emerging with the potential of pushing large segments of economic life to near zero marginal cost in the years ahead. Rifkin describes how the Communication Internet is converging with a nascent Energy Internet and Logistics Internet to create a new technology platform that connects everything and everyone. Billions of sensors are being attached to natural resources, production lines, the electricity grid, logistics networks, recycling flows, and implanted in homes, offices, stores, vehicles, and even human beings, feeding Big Data into an IoT global neural network. Prosumers can connect to the network and use Big Data, analytics, and algorithms to accelerate efficiency, dramatically increase productivity, and lower the marginal cost of producing and sharing a wide range of products and services to near zero, just like they now do with information goods.

Rifkin concludes that capitalism will remain with us, albeit in an increasingly streamlined role, primarily as an aggregator of network services and solutions, allowing it to flourish as a powerful niche player in the coming era. We are, however, says Rifkin, entering a world beyond markets where we are learning how to live together in an increasingly interdependent global Collaborative Commons.

About the Author: Jeremy Rifkin is the bestselling author of twenty books on the impact of scientific and technological changes on the economy, the workforce, society, and the environment. He has been an advisor to the European Union for the past decade.

Mr. Rifkin also served as an adviser to President Nicolas Sarkozy of France, Chancellor Angela Merkel of Germany, Prime Minister Jose Socrates of Portugal, Prime Minister Jose Luis Rodriguez Zapatero of Spain, and Prime Minister Janez Janša of Slovenia, during their respective European Council Presidencies, on issues related to the economy, climate change, and energy security.

Mr. Rifkin is a senior lecturer at the Wharton School's Executive Education Program at the University of Pennsylvania where he instructs CEOs and senior management on transitioning their business operations into sustainable Third Industrial Revolution economies.

Mr. Rifkin holds a degree in economics from the Wharton School of the University of Pennsylvania, and a degree in international affairs from the Fletcher School of Law and Diplomacy at Tufts University.

This Authors@Google talk was hosted by Boris Debic.
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