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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 12 2012: So your are saying Time does not have value if somebody didn't have a skill set? Hmm? I don't believe that because a skill set is acquired by time. That time was valued to learn that skill set. Anything can be valued with anything like 25 chicken equals one cow so are you telling me that your time can't be bought with all the money in the world? Don't get me wrong time is the most valuable asset a human has.

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