Capitalism won the Cold War just twenty years ago; it was a triumph of entrepreneurship, free markets and private ownership. But now, in 2011, we are faced with new, unprecedented problems: our capitalistic system continues to create wealth but it is increasingly benefiting only a few at the very top of the economic ladder. The near-collapse of the world banking system two years ago made us question our unwavering faith in the free-market system, and it opened our eyes to see that we must change course. As we struggle to find a new economic equilibrium, our market ecology is being challenged by a completely new paradigm: social production of information and culture.
What exactly is social production?
This research paper examines how social production of information and culture is changing our thinking about what’s possible in a networked society. No longer are we passively waiting to be told what’s newsworthy, or what a good story should look and feel like: we make our own news and stories. Sharing and collaboration is the new black – but not just a fad – it’s a way to create lasting wealth.
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