The Zero Marginal Cost Society

The Zero Marginal Cost Society

Author: Jeremy Rifkin

Publisher: Macmillan + ORM

Published: 2014-04-01

Total Pages: 344

ISBN-13: 1137437766

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The New York Times–bestselling author describes how current trends will create an era when anything and everything is available for almost nothing. In The Zero Marginal Cost Society, New York Times–bestselling author Jeremy Rifkin uncovers a paradox at the heart of capitalism that has propelled it to greatness but is now taking it to its death—the inherent entrepreneurial dynamism of competitive markets that drives productivity up and marginal costs down, enabling businesses to reduce the price of their goods and services in order to win over consumers and market share. (Marginal cost is the cost of producing additional units of a good or service, if fixed costs are not counted.) While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces. Now, a formidable new technology infrastructure—the Internet of things (IoT)—is emerging with the potential of pushing large segments of economic life to near zero marginal cost in the years ahead. Rifkin describes how the Communication Internet is converging with an Energy Internet and Logistics Internet to create a new technology platform that connects all. There are billions of sensors feeding Big Data into an IoT global neural network. Prosumers can connect to the network and use Big Data, analytics, and algorithms to accelerate efficiency, dramatically increase productivity, and lower the marginal cost of producing and sharing a wide range of products and services to near zero, just like they now do with information goods. The plummeting of marginal costs is spawning a hybrid economy—part capitalist market and part Collaborative Commons—with far reaching implications for society, according to Rifkin. Hundreds of millions of people are already transferring parts of their economic lives to the global Collaborative Commons. Prosumers are plugging into the IoT and making and sharing their own information, entertainment, green energy, and 3D-printed products at near zero marginal cost. Students are enrolling in free massive open online courses (MOOCs) that operate at near zero marginal cost. Social entrepreneurs are even bypassing the banking establishment and using crowdfunding to finance startup businesses as well as creating alternative currencies in the fledgling sharing economy. In this new world, social capital is as important as financial capital, access trumps ownership, sustainability supersedes consumerism, cooperation ousts competition, and “exchange value” in the capitalist marketplace is increasingly replaced by “sharable value” on the Collaborative Commons. Rifkin concludes that capitalism will remain with us, albeit in an increasingly streamlined role, primarily as an aggregator of network services and solutions, allowing it to flourish as a powerful niche player in the coming era. We are, however, says Rifkin, entering a world beyond markets where we are learning how to live together in an increasingly interdependent global Collaborative Commons.


Margin of Safety

Margin of Safety

Author: Seth A. Klarman

Publisher: Harpercollins

Published: 1991

Total Pages: 249

ISBN-13: 9780887305108

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Tells how to avoid investment fads, explains the basic concepts of value-investment philosophy, and offers advice on portfolio management


The Measurement of Environmental and Resource Values

The Measurement of Environmental and Resource Values

Author: A. Myrick Freeman III

Publisher: Routledge

Published: 2014-06-05

Total Pages: 479

ISBN-13: 1317703936

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The first edition of this important work was the winner of the 2002 Publication of Enduring Quality award by the Association of Environmental and Resource Economists. The continuing premise for the book is that estimates of the economic values of environmental and natural resource services are essential for effective policy-making. As previous editions, the third edition, which includes two additional co-authors, presents a comprehensive treatment of the theory and methods involved in estimating environmental benefits. Researchers, policy-makers, and practitioners will welcome the work as an up-to-date reference on recent developments. Students will gain a better understanding of the contribution that economics as a discipline can make to decisions concerning pollution control and human health, recreation, environmental amenities, and other critical issues concerning the way we use and interact with environmental and natural resource systems. To reflect recent progress in both the theory and practice of non-market valuation, the third edition includes more details on empirical approaches to measurement, expanded discussion of the reasons for divergence between "willingness to pay" and "willingness to accept compensation," and increased coverage of econometric issues encountered in estimation. In keeping with its cutting edge orientation, it also includes more discussion of survey design, equilibrium sorting models, and the implications of behavioral economics for welfare measurements and benefit cost analysis.


Price Theory And Applications (Tenth Edition)

Price Theory And Applications (Tenth Edition)

Author: Steven E. Landsburg

Publisher: World Scientific

Published: 2024-03-22

Total Pages: 832

ISBN-13: 9811263329

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Price Theory and Applications challenges students to master the economic way of understanding the world, with equal emphasis on intuition and precise logic, and special emphasis on the interplay between them. The writing is inviting, humorous, and sometimes folksy, without sacrificing the insistence that arguments need to be airtight. Important concepts are introduced via entertaining examples and fleshed out with rigor.The learning experience is supported by a vast number of intriguing and entertaining exhibits, examples, numerical exercises, and problem sets, some integrated within the text and others included at the end of chapters. The problems vary widely in their demands on students — some are straightforward applications of the theory, while others require a great deal of creativity and a willingness to think considerably outside the box.


Beyond Price

Beyond Price

Author: J. David Velleman

Publisher: Open Book Publishers

Published: 2015-10-08

Total Pages: 234

ISBN-13: 1783741678

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In nine lively essays, bioethicist J. David Velleman challenges the prevailing consensus about assisted suicide and reproductive technology, articulating an original approach to the ethics of creating and ending human lives. He argues that assistance in dying is appropriate only at the point where talk of suicide is not, and he raises moral objections to anonymous donor conception. In their place, Velleman champions a morality of valuing personhood over happiness in making end-of-life decisions, and respecting the personhood of future children in making decisions about procreation. These controversial views are defended with philosophical rigor while remaining accessible to the general reader. Written over Velleman's 30 years of undergraduate teaching in bioethics, the essays have never before been collected and made available to a non-academic audience. They will open new lines of debate on issues of intense public interest.


Agricultural Marketing and Price Analysis

Agricultural Marketing and Price Analysis

Author: F. Bailey Norwood

Publisher: Waveland Press

Published: 2021-12-20

Total Pages: 445

ISBN-13: 1478648678

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Friendly and readable, Agricultural Marketing and Price Analysis presents a comprehensive approach to agricultural price analysis, agricultural market structures, and agricultural marketing strategies. The authors engage students with very little exposure to economics and with only a basic grasp of algebra. The text utilizes a fresh approach and supplies thorough coverage of core topics, as well as complex topics such as general equilibrium models, game theory, and econometrics. It also provides an introduction to data analysis and incorporates many examples. Supplemental materials are available for additional practice and further exploration. Unique to the Second Edition is the inclusion of a chapter on consumer behavior and food preferences, as well as relevant areas of research. The authors introduce readers to the agricultural supply chain, including forecasting and inventory management. Succinct and approachable, this text sets the stage for an enjoyable and effective learning experience.