Editor’s note; The following analysis by Daniel Indiviglio from The Atlantic regarding a NYT article is foreboding of an unknown future. Half insightful synthesis and half tongue-in-cheek, this article suggests that virtual currency may impact the current monetary system. The conclusion is brilliant suggesting that the national debt could be paid in virtual currency. It seems quaint now, but what would happen if the dollar fails? During the Mexican Crisis, citizens emptied WalMart because today’s peso would be buy fewer Levies tomorrow – and it happened very fast. Get this and get it well: currency is a social agreement. People will trade what ever people agree to trade.
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Is Virtual Currency a Problem?
by Dan Robles on November 15, 2009
A Few Predictions for the Innovation Economy
by Dan Robles on September 18, 2008
Social Network will become the corporate structure of the future. They will spit out start-ups at an astonishing rate.
The “resume system” will be banished forever possibly earning the title of the cruelest human invention since the lobotomy.
The University System will be challenged – the relevance of the college degree will be questioned in an economy that favors unique combination of knowledge assets rather than everyone having the same “degree”.
Everyone will have visibility of supply and demand for knowledge assets meaning that employers and employees will have equal information about cost, availability, and demand.
Creative knowledge workers will earn micro-royalties for their participation in thousands of brainstorming sessions and product development discussions. Earnings will be shared openly and the percentile Search Engine.
The new Patent will be the “Secret Sauces” – the algorithm that entrepreneurs will develop to select their knowledge assets when producing specific innovation.
Teachers will forego salary in favor of an equity position in their students. The best teachers will make the most money. Universities will forego tuition in favor of an equity position in students; the best students attract the best mentors and universities. Apprenticeship will become commonplace.
The knowledge inventory and Percentile Search Engine system rewards people for doing what they are most passionate about. The dominant strategy for all players in an Innovation Economy (that which produces the most revenue) is for participants to pursue what they are naturally good at and passionate for – as long as there is a market for it.
Innovation bonds will return 80% interest or more with near-zero risk. Institutional investors, insurance reserves, and foreign investors will flood the market with venture capital.
Knowledge workers will outsource management.
The Fed will peg the dollar to productivity, not gold or silver – interest on deposits will track productivity increases due to innovation.
Social priorities will impact what gets invented or what stays on the shelf; Global Warming, Alternative Energy, Sustainable environments will have net positive business cases.
The flaw in market economics will be reversed. Technological change will precede economic growth eliminating the economics of debt (ref video). The financial system will be restored to a sustainable condition.
We know that innovation is the engine of all wealth creation and it will live in an integrated system. Knowledge will be reformatted to emulate a financial instrument.
A good article from business week
A great Blog: Jay Deragon and the relationship economy
