The must-read summary of Grady Means and David Schneider's book: "Metacapitalism: The e-Business Revolution and the Design of 21st-Century Companies and Markets". This complete summary of the ideas from Grady Means and David Schneider's book "Metacapitalism" shows that MetaCapitalism was the optimum design for the companies and markets of the twenty-first century which would be reshaped by the e-Business revolution. In their book, the authors explain how, if these companies had not changed their business models to align them with the imperatives of MetaCapitalism in time, they would most likely have been left behind permanently. This summary is a must-read for anyone who is interested in the development of business and economic conditions. Added-value of this summary: • Save time • Understand key concepts • Expand your knowledge To learn more, read "Metacapitalism" and learn more about the evolutions of the 21st century.
The authors of this work gather and make sense of the many changes the e-business revolution has fostered. Case histories and examples reveal how market leaders today are accelerating economic growth and value creation.
The information and industrial revolutions are so different and yet similar. Both enjoyed the emergence of accounting measurement and management techniques which privileged the efficient allocation of resources as the principal imperative to a firm's participation in a free market economy. MetaCapitalism is one such corporate change strategy which promised untold wealth and unprecedented growth, and under that guise a predatory Darwinistic corporate strategy was implemented. Fundamentally, it promotes extreme outsourcing and downsizing of human capital, de-capitalisation of all non-core capital assets and the diminished role of the State in the global free market economy. Yet the most disturbing aspect is its complete and total disregard for even the slightest social or public policy implications. Essentially then, its most salient danger is an unmistakable endorsement of a fundamentalist brand of value free, reckless capitalism that is ultimately detrimental not only to the long-term business interest, but human as well. One of the main findings of evaluating the Fortune 100 companies' performance in implementing MetaCapitalism was the resulting monopolies. Lenin described monopolies as essential to imperialism which is the highest stage of capitalism. The parallels between the resulting monopolies under MetaCapitalism, and what Lenin described as the final stage of Capitalism are poignant. I would like to draw upon those parallels in the hope that earlier work might enlighten our understanding and inform our critique of MetaCapiatlism.
The purpose of accounting information is to provide decision makers with the means to evaluate the efficient allocation of resources. The accounting models of measurement are driven by a worldview that privileges the efficient allocation of resources, which is justified by the scientific claims of objectivity inherent in the theory of evolution. This had provided the defenders of 'laissez-faire' Capitalism with the intellectual foundations to oppose state interference with market forces, in their pursuit to justify the efficiency imperative. The recent global economic upheaval of corporate collapses, like Enron's, could not have been averted regardless of the dismal failure of its Accountants, Arthur Andersen - if MetaCapitalism had not been implemented to such an extent. MetaCapitalism promised untold wealth and unprecedented growth, and under that guise a predatory Darwinistic corporate strategy was implemented, whose underlying principles predated the tribulations of those collapses. At its core, it advocates a radical or extreme outsourcing and downsizing of human capital, de-capitalisation of all non-core capital assets and the diminished role of the State in the global free market economy. It has the propensity to convey negative signals to the market as reflected in share price, contribute to an adverse profit performance, risk creating a state of 'corporate anorexia,' undermine the role of the individual in the workplace and completely err in its analysis of value added communities and B2B technology. Yet the most disturbing aspect is its complete and total disregard for even the slightest social or public policy implications. Essentially then, its most salient danger is an unmistakable endorsement of a fundamentalist brand of value free, reckless capitalism that is ultimately detrimental not only to the long-term business interest, but human as well. This paper offers a critique of MetaCapitalism, as an efficiency imperative for organizations, given that economic values have been given overriding priority in public discourse, at the expense of social and cultural values.
From the New York Times bestselling author of Big Data, a prediction for how data will revolutionize the market economy and make cash, banks, and big companies obsolete In modern history, the story of capitalism has been a story of firms and financiers. That's all going to change thanks to the Big Data revolution. As Viktor Mayer-Schörger, bestselling author of Big Data, and Thomas Ramge, who writes for The Economist, show, data is replacing money as the driver of market behavior. Big finance and big companies will be replaced by small groups and individual actors who make markets instead of making things: think Uber instead of Ford, or Airbnb instead of Hyatt. This is the dawn of the era of data capitalism. Will it be an age of prosperity or of calamity? This book provides the indispensable roadmap for securing a better future.
Purpose - The purpose of this paper is to review the literature on the MetaCapitalism phenomenon from its inception in the year 2000, so as to provide the background information necessary for this study.Design/methodology/approach - The approach employed in this paper is a theoretical assessment and model development based on the literature.Originality/value - The paper begins by defining MetaCapitalism's ideological prescriptions, then it proceeds to describe its model, identify its leaders and its predictions. Finally, the paper attempts to demystify the tenets of MetaCapitalism so as to provide a number of concluding remarks.
