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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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    Nov 10 2012: Awesome thought.

    I think that is indeed where we are moving. The flood of information for the last few decades has changed a lot of things. While it does have its drawbacks in the generation that's being built glued to an illuminated screen, it has given incredible amounts of information to an amazing number of people. The spread of knowledge is accelerating. And all that information is getting stored in each person, expanding their bodies of knowledge farther than was ever possible before. It's slowly taking us out of our roles as cogs and walking us into utilizing all our knowledge and resources to live.

    For example, I am a musician, dancer, and fitness instructor. I've changed course and focus over the years but I am now using all of my skillsets simultaneously. I do this simply out of joy. They are things that I like to do. They make me happy. But its allowed me to start to walk away from that place of identity that our system wants you to have. It wants to classify you as a lawyer, business man, administrator. It makes it easier to sell to you.

    But we're now starting to move a place where people are finding a fuller sense of self and responsibility. People who grow their own food. Bike instead of drive. Help people who obviously need it without asking. Have 2-3 "jobs" but simply because you're doing multiple things you love, not because you "have to make money". This system makes our physical dollars flow in more organically because you're doing what you love, you're saving more because you're being responsible about eating well and being good to the environment, and you're constantly getting meals and gifts and treats from friends and neighbors because you help them out all the time without them even asking.

    This is a much more joyful way to live. It redefines what capitalism is; no longer capitalizing to acquire great quantities, but capitalizing on all the opportunities you have to give of yourself to the world. I promise it's more fun that way.

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