Paul Krugman Joins The Infinite Goods Brigade

from the the-concept-is-getting-through dept

It looks like Paul Krugman is the latest economist to join the growing group of folks who recognize the impact of infinite goods on business models -- and how it's not a bad thing, just an inevitable shift in the market. Unfortunately, his writeup on the issue is a little weak. He references Esther Dyson's predictions about this from fourteen years ago and the recent Rolling Stone article we discussed last month. What's disappointing is that, as an economist, he should have been able to look at the fundamental economics and understand why this makes sense, but he chooses not to do so. That leaves him open to criticism. The next stage of this debate is going to be showing, fundamentally, why this inevitable change isn't a bad thing. Some people already recognize this, but it clearly is going to require a lot more convincing evidence.
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Filed Under: business models, economics, infinite goods, paul krugman


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  1. identicon
    DanC, 7 Jun 2008 @ 8:53am

    Re: Re: Re: Re: Re: What is infinite?

    Meaning that people are forced to continue buying new storage technology products, because the old ones stop working, become "obsolete", and cannot be replaced.

    The last time I checked, I could still buy 3.5 floppies and hard drives. You're simply banking on your future predictions to "prove" your point, because history doesn't support your accusations.

    Future electronics devices will be subject to scarcer physical resources, greater environmental regulation, and higher labor costs throughout the world. Any falling prices we see today are merely an artifact of newly modernized countries.

    Or the falling prices are the natural reaction due to the new products emerging.

    There really isn't any point in continuing this discussion, because you're using your predictions to back up your claims.

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