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RAVI CHANDRA PRAKHYA

Amateur Researcher , Looking for an opportunity

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Isn't human skill a more tangible currency than trust in the new economy?

In the Rachel Botsman's talk, she makes an observation about two things essentially: "the new economy" and "the currency" it operates on. Before going further I thought I will first understand the current status. In today's economy currency is the medium of exchange between production and consumption and is based on natural resources of energy and their trade among countries.

In order to understand "the new economy" I looked around on ted for some help and I found that in one of his talks Yochai Benkler observes that "Social production is a real fact, not a fad. Social relations and exchange become significantly more important than they ever were as an economic phenomenon" because " computation storage and communication capacity are in the hands of an ever growing number of users and these activities are the core basis of an information economy." I realized that internet is the driver of the new economy where production and consumption is driven socially.

In another talk Don Tapscott opines that sharing, collaboration, transparency and empowerment are the four principles of the open world.
After having learnt about an open economy in the open world I concluded that the new economy will have the similar dynamics. And I tried to scale the theory to the real world today as the context of interaction are about the real time environment.

In reality today production is less than consumption. And as the new economy is opined to be predominantly social. It will be safe to assume that social interactions will drive our interaction with our natural environment.

At a global scale this means skill set sharing will not be limited to services but will be extended to products. Since energy is the core basis of all and any product the future indicates multi-national energy sharing.

And in that case the only thing that will matter is being a user. Human resource will be globally sourced will A human skill set is thus I believe the currency of the new economy

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    Oct 20 2012: but how can human skill be weighted and measured
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      Oct 21 2012: Skill set is being measured already on the sites that the speaker has quoted in the talk. The iteration today needed is to scale these skill set measurements from small time job works to an economic scale.
      Similar to the concept of localization this scale varies from country to country.
      Global vision aligned with local action is what social interaction need to achieve to drive an economy
      and once that is achieved local human resource needs to be integrated.
      its just my perspective.
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        Oct 22 2012: Which speaker which talk sorry I did not watch all the talks.

        I don't know I have spent many a day trying to figure out how to get rid of money. I personally think that the people who do work/like to work will always work even if you gave the the choice not to work. Why couldn't every one live a semi-retired life. 50% work half a year 50% work the other half and machines do the rest.
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      Oct 22 2012: The basis to the current conversation are the four ted talks which are mentioned under the heading "related talks" just below the brief synopsis.
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        Oct 22 2012: yeah I saw, I comment on a lot of conversation and don't always have the time to watch the videos. However I will watch them :)

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