The “Knowledge Economy” is in recession


Inside the Biggest-Ever Hedge-Fund Scandal is a very interesting article unto itself, but it prompted the following related thought:

When we make knowledge “secret,” we increase its value immeasurably; however, when we make knowledge universally accessible we diminish its value to practically nothing. I’m sitting in a library as I write this, surrounded by easily available knowledge, yet I am one of a relatively small number who are here. So much knowledge at our collective fingertips, so little value placed in it. I suspect its something to do with our evolutionary biology to place greater value on those things we believe to be in scarce supply. Perhaps a scarcity model for knowledge would engender Apple product release-like lines at our local libraries? One can dream…


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