The Next Economic Paradigm

Tag: intellect

Video: Intellectual Property in the Social Media Cloud

The Patent system is slow, static, and expensive. Sure it’s great for corporations and wealthy institutions, but what about the rest of us? How do we get paid for our intellectual property? We make rapid fire decisions every day that can make or break markets – who’s got time to patent?

Or maybe the last thing that Wall Street wants is for Engineers, Architects, designers, and creative people to get “royalties” on their work. That is What Wall Street does, they collect the royalties of the creative people in America….until now. Social media is a social contract, IP is our currency.

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1,000,000 More Become Invisible, Powerless, and Marginalized

The September Job Numbers are out and the trends are disturbing.  Millions upon millions of Americans are now wondering how they are going to safeguard the health and welfare of their families and property.  As these people lose their “money” they become increasingly invisible, powerless, and marginalized – except for one single, solitary, beacon of earthly influence.  Social Media.

Now, more than ever, we need to implement an alternate economy with an alternate currency.  I am not pitching some “anti-dollar-therefore-anti-American” platform, I am talking about what the hell will millions of unemployed people and their families do if they don’t have a functional currency they can trade for basic needs and services.

These same people have tons of practical experience, diverse knowledge, and worthy intellect – but no money?  It makes absolutely no sense that “productivity” should become so divorced from the value of a solitary currency.

We must come to the immediate conclusion that social media can be a fabric that binds the American economy.  If done correctly, Social Media can become the basis of an economy that rewards social priorities over Wall Street Priorities.  But ONLY if done correctly.

While the institutions around us falter, social media will increasingly duplicate – for all practical purposes – the functions of these institutions in our society.  As this transition takes place, we must lead social media in specific and intentional directions.  This cannot be a “traditional” market driven process – the market is what we’re trying to correct.  This cannot be a random process or else it will become reactionary and feed on itself.  Instead, Social Media needs to be organized in a manner that allows information, knowledge, and innovation – the basis of human productivity – to trade like a financial instrument.

What if I told you that it would be a lot easier than it sounds?  What if I told you that almost all of the components needed to build this new economy already existed in the social media landscape?  What if  I told you that Government, Corporations, and Wall Street will not do this for us.  What if I told you that the risk from not doing anything far outweighs the risk of trying to develop and implement an economy built on a social media platform.

Everyone must have a productive role in the next economic paradigm – employed, unemployed, communities, traditional media, even existing corporations and their advertising departments.  All of the existing infrastructure is in place – it only needs to be rearranged a little bit.  That is what The Ingenesist Project hopes to initiate.  We may not be 100% correct and the process that actually arises may be substantially different, but we need to start somewhere.

Meanwhile, here are the Jobs stats for September;

Headlines: 263,000 “jobs lost” and unemployment rate up to 9.8%.

That’s not good – there goes the “second derivative” argument. Weekly earnings are also down by $1.54, which is bad news too. But the Household Data is VASTLY worse than reported. Here are the month-over-month changes, and they’re in the realm of frightening.

Civilian Labor Force: 154,879,000 to 153,617,000 this month.

Employed: 140,074,000 down to 139,079,000 this month.

That’s a loss of 995,000 jobs, not 263,000, and the labor force contracted by 1,262,000 people!

THE INVISIBLE PEOPLE: The people “not in the labor force” rose by a staggering 1,516,000 in the last month (”unemployed” who have given up and exited the labor force).

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The Second Impression of Social Media

As we move away from the ROI valuation model for social media and adopt a more dynamic ‘options’ analysis, a different picture emerges.  People are trading options; that is, the right without the obligation to exercise an action.  The next economic paradigm will emerge as a function of people exercising their options.

What are you doing here?

On the surface, there appears to be a lot of ‘feel-gooding’ on linkedin, Facebook, and Twitter, etc.  It is easy to brush them off as trivial, non-productive, and delusional.  I often fall victim spending too much time on these devices and have asked myself, simply: “why?”

Computer Enabled Society

At second glance, however, I have personally developed a few extremely profound, important and valuable relationships through “computer enabled society”.  People who I have never met in person have stepped way out on a limb to help me along.  As a result, I have given these people the option to access my network and they have done the same for me.  Our common purpose makes each relevant and valuable to the other and each are willing to support, mentor, and elevate the other.  We exercise options together.

Impressive Results

The distinction is that what once was a “first impression” – firmness of handshake, fashion, and physical appearance – has become the “second Impression”.

What was once the “second impression” – intellect, wisdom, talent and generosity – has become the “first impression”.

People exercise their options accordingly; first impressions leads us to action.

Evolution or Revolution?

Social media does not care if you are rich, poor, young or old, beautiful or homely.  It does not care about the color of your skin, fat or thin, physical ability or disability.  It does not care what kind of car you drive, clothes you wear, or the size of your home. Or does it?

For every revolution, there is a corresponding evolution.

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Socialism, Capitalism, or Social Capitalism

Throughout history, technological change has also brought changes in the organization of society around the new ways to allocate resources.  The industrial revolution spawned the two prevailing economic theories of our time; Capitalism and Socialism.

The current wave of technological change will likely spawn new economic theories and social organization systems as well – it makes no sense to look to the past for reference to the future of anything.

Capitalism arose from feudalism and is roughly characterized by a merchant class that owns the factors of production (land, labor, and capital) and a working class whose physical toil adds value to natural resources.  The capitalist acting in their own best interest is ultimately acting in the best interest of society by creating jobs that employ people.

Then Karl Marx came along and noted the inherent conflict where the workers would seek to maximize their wages and the merchants would seek to minimize wages.  He argued that class struggle would ultimately result in a communist system replacing the capitalist system. The communist acting in the best interest of society is ultimately acting in their own best interest.  Socialism is widely regarded as the transitional stage between capitalism and communism.

But the struggle is really over the control of the means of production, or factors of production. “Are land, labor, and capital” private property or public property? Are these notions even relevant in the age of the Internet?

Today, computer enabled society engaged in an innovation economy presents an entirely new set of conditions.  What happens when the factors of production are social capital, creative capital, and intellectual capital?  How are these “means of production” going to be controlled and by whom?

This is a serious philosophical quandary that will be brought down upon us in the next generation of social media because neither socialism or capitalism are applicable in a traditional sense. Like Heisenberg’s theory of indeterminacy – the more control you have over one factor, the less control you have over the other.  This is not a condition related to the ability to control someone or something, rather, it is a condition related to the nature of the system itself.  That’s a big deal.

For the traditional Socialist: in order to control social capital, one must equalize society – as such, the system retains little innovation production value.  In order to control creative capital, one must standardize creativity – likewise, the system retains little innovation production value.  In order to control intellectual capital, one must control the intellectual development of another – again, the system retains little innovation production value.

Likewise for the traditional Capitalist: In your world is no ROI to curb global warming, there is no ROI to educate the poor, there is no ROI for human rights, and there is no ROI on the national debt, etc. As such, the system is constrained by the social burden to innovate – you can no longer scale.

There is, however, a business plan to liberate social capital, creative capital, and intellectual capital as tangible financial instruments in their own right, by definition, reflecting social priorities in an innovation economy.  This is where the next generation of social media is leading to – and it scales magnificently.  Have you noticed?

That is Social Capitalism.

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