Goodbye Capitalism! Hello Zero Marginal Cost. Are you ready for the 3 Internets of Communication, Energy and Logistics convering into 1 Internet where EVERYONE will be connected to EVERYTHING. We’ll be able to tap into a network; complete stream of data, where apps that will be programmed for us will able to provide us the ability to create our own algorithms combined with mobile technology, 3d printing technology and automated logistics (like drones!) to increase productivity and reduce our OWN marginal cost. Hello… ZERO Marginal Cost.
Economic theorist and author Jeremy Rifkin explains his concept of The Internet of Things. Rifkin’s latest book is The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism
“We are just beginning to glimpse the bare outlines of an emerging new economic system, the collaborative commons. This is the first new economic paradigm to emerge on the world scene since the advent of capitalism and socialism in the early 19th century.”
“So it’s a remarkable historical event. It has long-term implications for society. But what’s really interesting is the trigger that’s giving birth to this new economic system. The trigger is something called zero marginal cost.”
“Now, marginal costs are the costs of producing an additional unit of a good and service after your fixed costs are covered. Business people are all aware of marginal costs, most of the public isn’t. But this idea of zero marginal cost is going to dramatically intimately affect every single person in the world in the coming years in every aspect of their life.”