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Four Futures: Life After Capitalism by Peter Frase
3D printing, Airbnb, basic income, bitcoin, call centre, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, cryptocurrency, deindustrialization, Edward Snowden, Erik Brynjolfsson, Ferguson, Missouri, fixed income, full employment, future of work, high net worth, income inequality, industrial robot, informal economy, Intergovernmental Panel on Climate Change (IPCC), iterative process, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, litecoin, mass incarceration, means of production, Norbert Wiener, Occupy movement, pattern recognition, peak oil, Plutocrats, plutocrats, postindustrial economy, price mechanism, private military company, Ray Kurzweil, Robert Gordon, Second Machine Age, self-driving car, sharing economy, Silicon Valley, smart meter, TaskRabbit, technoutopianism, The Future of Employment, Thomas Malthus, Tyler Cowen: Great Stagnation, universal basic income, Wall-E, Watson beat the top human players on Jeopardy!, We are the 99%, Wolfgang Streeck
Both the possibility of ecological limits and the political constraints of a class society are, in this view, “material” constraints. And the interaction between them is what will determine our path forward. The existence of capitalism as a system of class power, with a ruling elite that will try to preserve itself into any possible future, is therefore a central structuring theme of this book, a theme that I believe is absent from almost every other attempt to understand the trajectory of a highly automated postindustrial economy. Technological developments give a context for social transformations, but they never determine them directly; change is always mediated by the power struggles between organized masses of people. The question is who wins and who loses, and not, as technocratic authors like Costanza would have it, who has the “correct” view of the objective nature of the world. So for me, sketching out multiple futures is an attempt to leave a place for the political and the contingent.
Malthus’s view turned out not to account for the factors that have allowed the Earth to sustain a much larger population at higher living standards than were possible 200 years ago, beginning with increases in agricultural productivity. However, the general theme of material limits to growth recurs in both mainstream and critical left-wing treatments of capitalism. Stanley Jevons, one of the progenitors of modern mainstream economics, became preoccupied with an issue that is still central to industrial and postindustrial economies: energy scarcity. In his 1865 book The Coal Question, Jevons analyzed British economic growth and its dependence on tapping coal reserves.5 He projected that within less than a century, economic growth would have to stall as coal production peaked and declined. Moreover, he saw efforts at energy conservation as inevitably doomed. Making the case for what came to be known as the “Jevons paradox,” he argued that increased energy efficiency would simply lead to more energy consumption because the cheaper power would be used more.
To Serve God and Wal-Mart: The Making of Christian Free Enterprise by Bethany Moreton
affirmative action, American Legislative Exchange Council, anti-communist, Berlin Wall, big-box store, Bretton Woods, Buckminster Fuller, collective bargaining, corporate personhood, creative destruction, deindustrialization, desegregation, Donald Trump, estate planning, Fall of the Berlin Wall, Frederick Winslow Taylor, George Gilder, global village, informal economy, invisible hand, liberation theology, market fundamentalism, Mont Pelerin Society, mortgage tax deduction, Naomi Klein, new economy, New Urbanism, post-industrial society, postindustrial economy, prediction markets, price anchoring, Ralph Nader, RFID, road to serfdom, Ronald Reagan, Silicon Valley, Stewart Brand, strikebreaker, The Wealth of Nations by Adam Smith, union organizing, walkable city, Washington Consensus, white flight, Whole Earth Catalog, Works Progress Administration
Her mobilization of conservatives succeeded in removing homosexuals from Dade County’s antidiscrimination clause.89 The image of vulnerable human life tossed out as refuse likewise dramatically haunted conservative Christianity after the mid-Â�1970s. Jerry Falwell’s account of his awakening to an active pro-Â�life position invokes a dumpster in Los Angeles overÂ�flowing with the dismembered remains of 1,700 fetal bodies and a trash incinerator in Wichita sendingÂ€up hundreds more in smoke, like the victims of Auschwitz.90 The postindustrial economy’s accelerated drive to render people functionally obsolete was figÂ�ured in the imagery of the political Left as the dispossessed, the economic refugees, the reserve army of the unemployed. But its mirror image on the Right was an equally visceral horror at the potential loss of meaning in human reproduction. The dispossessed in this cosmology were the children unconceived or unborn because of their economic superfluity.
Despite its gleam of pure sciÂ�enÂ�tific rationality, developing and deploying high technology has been in part a 132 MAKING CHRISTIAN BUSIN E S S M EN spiritual exercise from the beginning, no matter the political context. The countercultural devotees of Buckminster Fuller, Ken Kesey, and the Whole Earth Catalog brought their dreams of antiauthoritarian, transcendent elitism into the cyber revolution in California. Blending their privileged vision as “comprehensive designers” with the decentralized technologies they developed, this loose fraternity marked an entire wing of the postindustrial economy with their conviction that their new tools made them “as gods.” From the Berkeley Free Speech Movement’s rebellion against the university as “knowledge factory,” the West Coast generation thumbed its nose at the men in the gray flannel suits—often their own fathers, whose bureaucratized work lives looked to them like a vision of hell on earth. The students found a short-term solution in their romantic dreams of country living, founding a wave of rural communes where virtually evÂ�eryÂ�one was white, well-educated, and young, and where the chicks baked the bread.
One out of evÂ�ery three young people attended college, a ratio that was to hold essentially steady through the end of the century.47 The explosion of the college population that America subsidized after World War II had different effects in the Sun Belt than in the industrial North. In Detroit and Newark, the new crop of students came from the households of second-generation factory workers, the descendants of the late-nineteenth-century immigration wave. For some of them, the increasingly visible shift to a postindustrial economy produced a renaissance on the Left: If the industrial working class was to be replaced by sciÂ�enÂ�tific technocrats running automated industries, as theorists like Daniel Bell and Alain Touraine predicted, then students need not endlessly wait for their parents to charge the barricades from suburbia.48 In the South and parts of the West, however, the accounting and marketing students were fresh off the farm, encountering the punch card without prior experience of the assembly line.
The Cheating Culture: Why More Americans Are Doing Wrong to Get Ahead by David Callahan
1960s counterculture, affirmative action, corporate governance, corporate raider, creative destruction, David Brooks, deindustrialization, East Village, fixed income, forensic accounting, full employment, game design, greed is good, high batting average, housing crisis, illegal immigration, income inequality, job satisfaction, mandatory minimum, market fundamentalism, McMansion, microcredit, moral hazard, new economy, New Urbanism, offshore financial centre, oil shock, old-boy network, Plutocrats, plutocrats, postindustrial economy, profit maximization, profit motive, RAND corporation, Ray Oldenburg, Robert Bork, rolodex, Ronald Reagan, shareholder value, Shoshana Zuboff, Silicon Valley, Steve Jobs, The Bell Curve by Richard Herrnstein and Charles Murray, The Chicago School, Thorstein Veblen, War on Poverty, winner-take-all economy, World Values Survey, young professional, zero-sum game
Free-market ideologues have also successfully pushed tax polices that favor the wealthy and further concentrate wealth at the top of our society.6 Inequality has grown across the industrialized world since the 1970s, but it's more acute here in large part because America has done next to nothing to tackle the problem: There have been no huge new investments in education or job training to ensure that everyone can compete in the postindustrial economy; no consistent government efforts to prime the economic pump to keep labor markets tight and raise wages for those at the bottom; and no major assistance to lower-income families to help them build wealth in the form of homes and retirement savings. Many say that inequality doesn't matter. It's said that as long as there is opportunity, as long as people can move upward and transform their lives through hard work, inequality is not a social problem we should worry about.
In his book The Moral Foundations of Trust, scholar Eric Uslaner used a variety of opinion surveys taken over the past several decades to examine how and why people trust others. He writes: "If you believe that things are going to get better—and that you have the capacity to control your life—trusting others isn't so risky. Generalized trusters are happier in their personal lives and believe they are masters of their own fate."37 It's not easy to feel like you can control your life in America's postindustrial economy. In a winner-take-all market plagued by stagnating wages, downsizing, and rising prices for key life necessities like health care and housing, many people have good reasons to be pessimistic and resentful. Polling during the boom periods of both the 1980s and 1990s showed that even as the economy grew by leaps and bounds, many people didn't believe that their own incomes would rise. More than half of Americans consistently said that they weren't making enough money to lead the life they wanted, and many didn't see such money in their future.
Smart proposals abound for how to help more people create personal wealth: birth endowments that give every child a nest egg on day one and, through the miracle of compound interest, translate into real assets by adulthood; Individual Development Accounts that leverage government money to encourage poorer Americans to save; special housing programs that offer low-interest loans to first-time homeowners; micro-credit loans that allow more people to start a small business. The ideas are all there. What is needed now are serious investments aimed at creating a true "stakeholder society."4 Fourth, more needs to be done to reduce key insecurities that are part of our postindustrial economy. Americans may never again have the kind of job security that was common forty years ago. The days of strong labor unions and benevolent employers who provide good benefits may never return. More and more workers in the new economy will increasingly operate as free agents and have responsibility for meeting their own pension, health-care, and child-care needs. All of this can be a good thing, giving people more freedom, organizations more flexibility, and the economy greater dynamism.
The Great Reset: How the Post-Crash Economy Will Change the Way We Live and Work by Richard Florida
banking crisis, big-box store, blue-collar work, car-free, carbon footprint, collapse of Lehman Brothers, congestion charging, creative destruction, deskilling, edge city, Edward Glaeser, falling living standards, financial innovation, Ford paid five dollars a day, high net worth, Home mortgage interest deduction, housing crisis, if you build it, they will come, income inequality, indoor plumbing, interchangeable parts, invention of the telephone, Jane Jacobs, Joseph Schumpeter, knowledge economy, labour mobility, low skilled workers, manufacturing employment, McMansion, Menlo Park, Nate Silver, New Economic Geography, new economy, New Urbanism, oil shock, Own Your Own Home, pattern recognition, peak oil, Ponzi scheme, post-industrial society, postindustrial economy, reserve currency, Richard Florida, Robert Shiller, Robert Shiller, secular stagnation, Silicon Valley, Silicon Valley startup, sovereign wealth fund, the built environment, The Wealth of Nations by Adam Smith, Thomas L Friedman, total factor productivity, urban decay, urban planning, urban renewal, white flight, young professional, Zipcar
Even if cross-border issues hold up a Toronto-Detroit high-speed rail line, a Toronto-Windsor link might very well do the trick: downtown Detroit can be easily connected via subway across the tunnel to Windsor. The blogger and urbanist Ryan Avent sees an important parallel between the revitalization of the Rust Belt and what’s occurred across the Bos-Wash corridor. “Along the northeastern corridor, there are cities that made the jump from industrial to postindustrial economy fairly successfully,” he writes, “namely, those that had developed knowledge-intensive industries like finance or technology even as industry was beginning to leave center cities. In between these successful cities are interspersed others that were heavily reliant on industry, and which didn’t fare nearly as well over the past half century.” The reason for the turnaround, he argues, is transportation, which increases connectivity and proximity to thriving markets.
For too many, the dream of home ownership turned into an economic trap, one of our own making. The most staggering damage caused by the housing crisis may not be the impact on the financial markets; it may be the long-run competitive disadvantage caused by the inability to relocate the labor force to where the jobs of the future lie. It’s not that home ownership per se is bad, it’s that home ownership on the scale it has grown to is plainly ill suited to today’s postindustrial economy. Letting go of it as the centerpiece of our collective aspirations might be among the healthiest, most liberating steps we can take. We are already beginning to see some signs of a shift toward renting. With all the turmoil in the housing markets, many people have put off buying. And with tightened credit standards (requiring a modest down payment and a reasonable credit rating), it’s become much harder for those who don’t have their financial house in order to buy.
assortative mating, autonomous vehicles, blue-collar work, Bonfire of the Vanities, Branko Milanovic, call centre, collective bargaining, computer age, corporate governance, Credit Default Swap, David Ricardo: comparative advantage, Deng Xiaoping, Erik Brynjolfsson, feminist movement, Frank Levy and Richard Murnane: The New Division of Labor, Gini coefficient, Gunnar Myrdal, income inequality, industrial robot, invisible hand, job automation, Joseph Schumpeter, low skilled workers, lump of labour, manufacturing employment, moral hazard, oil shock, pattern recognition, Paul Samuelson, performance metric, positional goods, post-industrial society, postindustrial economy, Powell Memorandum, purchasing power parity, refrigerator car, rent control, Richard Feynman, Richard Feynman, Ronald Reagan, shareholder value, Silicon Valley, Simon Kuznets, Stephen Hawking, Steve Jobs, The Spirit Level, too big to fail, trickle-down economics, Tyler Cowen: Great Stagnation, union organizing, upwardly mobile, very high income, Vilfredo Pareto, War on Poverty, We are the 99%, women in the workforce, Works Progress Administration, Yom Kippur War
But women were much more likely than men to shift upward into higher-skilled jobs—from information technology engineer and personnel manager on up through various high-paying professions that require graduate degrees (doctor, lawyer, etc.).12 These findings reflect feminism’s victories in the workplace, but they also reflect something else: diminishing job opportunities for working-class males. The journalist Hanna Rosin, writing in the Atlantic in 2010, observed that three quarters of the jobs lost during the 2007–09 recession had been held by men. “The worst-hit industries,” she wrote, “were overwhelmingly male and deeply identified with macho: construction, manufacturing, high finance.” Picking through this wreckage, Rosin wondered, “What if the modern, postindustrial economy is simply more congenial to women than to men?”13 Source: David Autor, “The Polarization of Job Opportunities in the U.S. Labor Market: Implications for Employment and Earnings” (Washington, Center for American Progress, April 2010), 10. Autor’s source was data from the Census Bureau’s Current Population Survey. That might seem counterintuitive at a time when the top of the economic heap is overwhelmingly male.
Among married couples in the United States, Schwarz calculated, earnings inequality would, from 1967 to 2005, be 25 percent to 30 percent lower were it not for that period’s growing correlation between spouses’ incomes.24 The Rise in Single Parenthood Earlier in this chapter I noted that during the Great Divergence family incomes increased by only 10 percent, even though families during this period were much likelier than they previously were to rely on two salaries, and even though women’s incomes were gaining on men’s. Part of the reason was a rise in single-parent households, which in most instances meant a woman raising children without a husband or male partner. Just as the Atlantic’s Hanna Rosin and The Full Monty’s Gaz wonder whether the modern, postindustrial economy has much use for men, so might we wonder about the modern, postindustrial family. The declining economic value of men as Ward Cleaver–style breadwinners is a significant reason for the rise in single parenthood. As male incomes became less reliable and social taboos were loosened against divorce and out-of-wedlock birth, women became less inclined to marry, or stay married to, the fathers of their children.
The End of Men: And the Rise of Women by Hanna Rosin
affirmative action, call centre, cognitive dissonance, David Brooks, delayed gratification, edge city, facts on the ground, financial independence, hiring and firing, housing crisis, income inequality, informal economy, job satisfaction, low skilled workers, manufacturing employment, meta analysis, meta-analysis, new economy, New Urbanism, Norman Mailer, Northern Rock, postindustrial economy, purchasing power parity, Results Only Work Environment, Silicon Valley, Steven Pinker, union organizing, upwardly mobile, white picket fence, women in the workforce, young professional
Indeed, the US economy is becoming a kind of traveling sisterhood: Professional women leave home and enter the workforce, creating domestic jobs for other women to fill. Our vast and struggling middle class, where the disparities between men and women are the greatest, is slowly turning into a matriarchy, with men increasingly absent from the workforce and from home, and women making all the decisions. In the past, men derived their advantage largely from size and strength, but the postindustrial economy is indifferent to brawn. A service and information economy rewards precisely the opposite qualities—the ones that can’t be easily replaced by a machine. These attributes—social intelligence, open communication, the ability to sit still and focus—are, at a minimum, not predominantly the province of men. In fact, they seem to come more easily to women. Women in poor parts of India are learning English faster than men, to meet the demands of new global call centers.
In fact, one recent study found that African-American boys whose fathers are in jail have higher graduation rates than those whose fathers are around, suggesting that fathers have become a negative influence. African-American men and women have the greatest gender gap in college graduation rates, and Ebony magazine often laments how difficult it is for a black woman to find a suitable man. In 2010 I visited Kansas City to follow one of the court-sponsored men’s support groups that have sprung up throughout the Rust Belt and in other places where the postindustrial economy has turned traditional family roles upside down. Some groups help men cope with unemployment, and others help them reconnect with their alienated families. Many of the men I spoke with had worked as electricians or builders; one had been a successful real-estate agent. Now those jobs are gone, too. Darren Henderson was making $33 an hour laying sheet metal until the real-estate crisis hit and he lost his job.
The Impulse Society: America in the Age of Instant Gratification by Paul Roberts
2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, accounting loophole / creative accounting, activist fund / activist shareholder / activist investor, Affordable Care Act / Obamacare, American Society of Civil Engineers: Report Card, asset allocation, business process, Cass Sunstein, centre right, choice architecture, collateralized debt obligation, collective bargaining, computerized trading, corporate governance, corporate raider, corporate social responsibility, creative destruction, crony capitalism, David Brooks, delayed gratification, double helix, factory automation, financial deregulation, financial innovation, fixed income, full employment, game design, greed is good, If something cannot go on forever, it will stop - Herbert Stein's Law, impulse control, income inequality, inflation targeting, invisible hand, job automation, John Markoff, Joseph Schumpeter, knowledge worker, late fees, Long Term Capital Management, loss aversion, low skilled workers, mass immigration, new economy, Nicholas Carr, obamacare, Occupy movement, oil shale / tar sands, performance metric, postindustrial economy, profit maximization, Report Card for America’s Infrastructure, reshoring, Richard Thaler, rising living standards, Robert Shiller, Robert Shiller, Rodney Brooks, Ronald Reagan, shareholder value, Silicon Valley, speech recognition, Steve Jobs, technoutopianism, the built environment, The Predators' Ball, the scientific method, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, total factor productivity, Tyler Cowen: Great Stagnation, Walter Mischel, winner-take-all economy
(The two had been evenly matched just fifteen years before.3) The rate of personal bankruptcies had tripled.4 You could blame other factors, such as a decline in financial literacy and increasingly predatory creditors. But looking at the research, one could also ask whether we’d crossed some sort of neuro-economic threshold where our high-tech consumer economy was supplying more individual “capability” than many of us could comfortably handle. This awkward possibility is part of a broader paradox at the center of the Impulse Society. In the last chapter, we watched as postindustrial economies, juiced up by technology, globalization, a more mercenary business model, and a less engaged government, offered consumers what amounted to a grand bargain: we would surrender much of our postwar economic security, but in return, we would receive some extraordinary new capabilities—manifest in everything from cheaper, faster food and more powerful cars to round-the-clock entertainment and, of course, ubiquitous, easy credit—that would let us continue our search for self-discovery and identity.
In a 1904 speech to British bankers, Joseph Chamberlain, England’s former colonial secretary, summarized the dilemma in harsh terms. “Banking is not the creator of our prosperity but the creation of it. It is not the cause of our wealth, but it is the consequence of our wealth.” England could not survive merely as the “hoarder of invested securities” if that capital were not being employed as the “creator of new wealth.”47 More than a century later, the leading postindustrial economies still seem determined not to learn that lesson. Not only has finance remained the dominant sector in the U.S. economy, but the players are more firmly entrenched than ever. The finance sector is even more concentrated today, with just twelve megabanks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, holding more than two-thirds of all U.S. bank assets.48 Meanwhile, the limbic attributes of the sector continue to shape the culture at large.
3D printing, A Declaration of the Independence of Cyberspace, AI winter, Airbnb, Albert Einstein, Amazon Web Services, augmented reality, bank run, barriers to entry, Baxter: Rethink Robotics, bitcoin, blockchain, book scanning, Brewster Kahle, Burning Man, cloud computing, commoditize, computer age, connected car, crowdsourcing, dark matter, dematerialisation, Downton Abbey, Edward Snowden, Elon Musk, Filter Bubble, Freestyle chess, game design, Google Glasses, hive mind, Howard Rheingold, index card, indoor plumbing, industrial robot, Internet Archive, Internet of things, invention of movable type, invisible hand, Jaron Lanier, Jeff Bezos, job automation, John Markoff, Kevin Kelly, Kickstarter, lifelogging, linked data, Lyft, M-Pesa, Marc Andreessen, Marshall McLuhan, means of production, megacity, Minecraft, multi-sided market, natural language processing, Netflix Prize, Network effects, new economy, Nicholas Carr, old-boy network, peer-to-peer, peer-to-peer lending, personalized medicine, placebo effect, planetary scale, postindustrial economy, recommendation engine, RFID, ride hailing / ride sharing, Rodney Brooks, self-driving car, sharing economy, Silicon Valley, slashdot, Snapchat, social graph, social web, software is eating the world, speech recognition, Stephen Hawking, Steven Levy, Ted Nelson, the scientific method, transport as a service, two-sided market, Uber for X, Watson beat the top human players on Jeopardy!, Whole Earth Review, zero-sum game
It led a greater percentage of the population to decide that humans were meant to be ballerinas, full-time musicians, mathematicians, athletes, fashion designers, yoga masters, fan-fiction authors, and folks with one-of-a-kind titles on their business cards. With the help of our machines, we could take up these roles—but, of course, over time the machines will do these as well. We’ll then be empowered to dream up yet more answers to the question “What should we do?” It will be many generations before a robot can answer that. This postindustrial economy will keep expanding because each person’s task (in part) will be to invent new things to do that will later become repetitive jobs for the robots. In the coming years robot-driven cars and trucks will become ubiquitous; this automation will spawn the new human occupation for former truck drivers of trip optimizer, a person who tweaks the traffic algorithms for optimal energy and time usage.
See also work environments on-demand expectations, 64–65, 114–17 OpenOffice, 151 open source industry, 135, 141–42, 143, 271 oral communication, 204 Oscar Awards, 187–88 overfitting, 170 ownership, 112–13, 117–18, 121–22, 124–25, 127, 138 Page, Larry, 36–37 Pandora, 169 parallel computation, 38–39, 40 passive archives, 249 passwords, 220, 235 patents, 283 PatientsLikeMe, 145 patronage, 71–72 PayPal, 65, 119–20, 124 pedometers, 238 peer-to-peer networks, 129–30, 184–85 Periscope, 76 “personal analytics” engine, 239 personalization, 68–69, 172–73, 175, 191, 240–41, 261–62 pharmaceutical research, 241–42 pharmacies, 50 phase transitions, 294–97 phones automatic updates of, 62 cameras in, 34 and clouds, 126 and decentralized communications, 129–31 and on-demand model of access, 114 directories, 285 and interactivity, 219 lifespan of apps for, 11 as reading devices, 91–92 in rural China, 56 and self-tracking technology, 239–40 and tracking technology, 239–40, 250, 253 and virtual reality technology, 215, 222 photography and images and artificial intelligence, 33–34 and classic film production, 198–99 and content recognition, 43, 203 and Creative Commons licensing, 139 democratization of, 77 and digital storage capacity, 266 and facial recognition, 39, 43 flexible images, 204 and Google Photo, 43 and lifelogging, 248–49 and new media genres, 195 and photo captioning, 51 and reproductive imperative, 87 sharing of, 140 Picard, Rosalind, 220 Picasso, Pablo, 288 Pichai, Sundar, 37 Pine, Joseph, 172–73 Pinterest, 32, 136, 139, 140, 183 piracy, 124 placebo effect, 242 platform synergy, 122–25, 131 PlayStation Now, 109 porn sites, 202–3 postal mail, 253 postindustrial economy, 57 “presence,” 216–17 printing, 85, 87. See also books privacy, 124, 253, 255 processing speeds, 293 Progressive Insurance, 251 Project Jacquard, 225 Project Sansa, 218 property rights, 207–8 prosumers (freelancers), 113, 115, 116–17, 148, 149 proxy data gathering, 255 public commons, 121–22 public key encryption, 260–61 publishing and publishers, 149 purchase histories, 169 Quantified Self Meetup groups, 238–40 Quantimetric Self Sensing, 247 quantum computing, 284 Quid, 32 Quinn, David, 17 Radiohead, 72 randomized double-blind trials, 242 reading, 89, 91–92, 94–95, 103–4.
The Post-American World: Release 2.0 by Fareed Zakaria
affirmative action, agricultural Revolution, airport security, anti-communist, Asian financial crisis, battle of ideas, Berlin Wall, Bretton Woods, BRICs, British Empire, call centre, capital controls, central bank independence, centre right, collapse of Lehman Brothers, conceptual framework, Credit Default Swap, currency manipulation / currency intervention, delayed gratification, Deng Xiaoping, double entry bookkeeping, failed state, Fall of the Berlin Wall, financial innovation, global reserve currency, global supply chain, illegal immigration, interest rate derivative, Intergovernmental Panel on Climate Change (IPCC), knowledge economy, Mahatma Gandhi, Martin Wolf, mutually assured destruction, new economy, oil shock, open economy, out of africa, Parag Khanna, postindustrial economy, purchasing power parity, race to the bottom, reserve currency, Ronald Reagan, Silicon Valley, Silicon Valley startup, South China Sea, Steven Pinker, The Great Moderation, Thomas L Friedman, Thomas Malthus, trade route, Washington Consensus, working-age population, young professional, zero-sum game
They read about computers, management theory, marketing strategy, and the latest innovations in science and technology. They speak globalization fluently. The result is a country that looks like no other developing nation. India’s GDP is 50 percent services, 25 percent industry, and 25 percent agriculture. The only other countries that fit this profile are Portugal and Greece—middle-income countries that have passed through the first phases of mass industrialization and are entering the postindustrial economy. India is behind such economies in manufacturing and agriculture but ahead of them in services—a combination that no one could have planned. The role of the consumer in India’s growth has been similarly surprising. Most Asian success stories have been driven by government measures that force the people to save, producing growth through capital accumulation and market-friendly policies. In India, the consumer is king.
“Tip,” 179, 284 Opium Wars, 81 Organization of American States (OAS), 268 Organization of Petroleum Exporting Countries (OPEC), 30 Orissa, 155 Ottoman Empire, 67, 68, 73, 75, 82, 84, 85, 117–18 outsourcing, 27–28, 50, 148, 203 “Pacific Century,” 245 Pakistan, 12, 13, 14, 145, 159, 165, 166, 172, 176, 241, 260, 263, 264, 271 Palestinians, 6, 246 Pampers diapers, 105 Parsley crisis (2002), 239–41 Patriots Alliance, 135 Patten, Christopher, 248–49 “peaceful rise,” 119–20, 127–36 peasants, 65–66, 100, 106, 112 Pei, Minxin, 106, 110 pensions, 212 Perejil Island, 239–41 Perry, William, 265 Pershing missiles, 251 Persian Gulf, 32 Peru, 26 Peter I, Emperor of Russia, 83–84 petrochemicals, 32 Pew Global Attitudes Survey, 59, 122, 166, 226 Philippines, 11, 28, 133 Philosophical Dictionary (Voltaire), 123 Pilhofer, Aron, 220 Pines, Burton, 235 Pinker, Steven, 9 Pitt, William, 82 Pizarro, Francisco, 80 platinum, 131 Plaza Accord meetings, 282 plutonium, 176 polar ice caps, 33 political parties, 59, 154, 156–62, 178, 179–80, 235, 255, 276–77, 278, 279, 283 “political risk,” 19 Poos, Jacques, 245 population growth, 22, 31, 32–33, 50–51, 66, 80, 100, 112, 144, 145, 148, 178–83, 191, 213–16, 236–37 Portugal, 69, 79, 80, 116, 151 “positive supply shocks,” 20 post-American world: anti-Americanism and, 13, 35, 39, 42, 60, 166, 241, 245, 251–55, 274, 283 asymmetry in, 142–44, 269–72 cultural change in, 1–5, 16, 39, 41, 62–99, 126–27 economic conditions in, 6–61, 93, 94, 97, 197–99, 241–43, 255 future trends for, 1–5, 94–99, 199–203, 204, 239–85 legitimacy in, 243–50, 273–75 multilateralism in, 246–55, 267–69 nationalism in, 34–42, 101, 134–35, 143, 145, 158–59, 180–83, 192, 274 power shift in, 20, 22–23, 29, 34–42, 47–49, 51–54, 93–94, 99, 127–28, 137–44, 241–42, 259, 266–67 “rise of the rest” in, xii, 1–5, 47, 55–56, 65, 96–97, 99, 101, 199, 219–22, 242, 257–59, 263, 267–69, 285 strategic approach to, 142–44, 255–75 unipolar vs. multipolar order of, 1–5, 39, 52–53, 233, 241–42, 243–50, 264–65, 266–69, 274–75 U.S. global role in, xii, 4, 48–61, 117, 120, 142–44, 182–83, 223–26, 235–85 see also globalization postindustrial economies, 151, 200, 204 poverty, 3, 22, 65–66, 100, 102, 106, 111, 113–14, 117, 121, 146, 149, 150, 155–58, 169, 177 Powell, Colin, 240 Pratt School of Engineering, 205 Premji, Azim, 155 price levels, 21, 30, 67, 70, 128 private property, 73, 150 private sector, 148–53, 160–61 privatization, 107, 110, 150–51, 152, 153, 222 Procter & Gamble, 105, 151 product development, 202–3 productivity, 21, 30, 33, 50, 71–72, 160, 200, 212, 281, 282, 283 profit, 72, 80, 128, 200, 203 Protestantism, 81, 97–98, 125, 262 Prussia, 191 Pudong financial district, 102–3 Punjab, 180 purchasing power parity (PPP), 18n, 21, 66n, 113n, 148n, 198n qi (energy), 126 Qienlong, Emperor of China, 69 Qing dynasty, 63–64, 81 quotas, 109 Raffles, Stamford, 185 Rajasthan, 180 Ramo, Joshua Cooper, 142–43 Ranbaxy, 153 Ratner, Ely, 38 Rattner, Steven, 230 Reagan, Ronald, 168, 251, 284 real estate, 43, 85, 152, 217, 218, 225 recessions, 25, 227, 232 regional governments, 145, 161, 178–83 regional powers, 257–63 Reisen, Helmut, 281 Reliance Industries, 149, 153 religion, 15–16, 74, 76, 80, 81, 87, 98, 122–25, 127, 169, 171, 172, 213, 262, 278 Renaissance, 68 Report of Phihihu (Frederick II), 124 Republican Party, 59, 235, 276–77, 278, 280–81 reserve currency, 267 “responsible stakeholders,” 257 retail sector, 203 Revolutionary War, U.S., 194 Rhine River, 77 Ricci, Matteo, 124–25 Rice, Condoleezza, 252–53 Richie, Donald, 92 Rig Veda, 171 Rise of the Great Nations, The, 120 Rivoli, Pietra, 203 Roach, Steven, 282 Roberts, J.
Social Capital and Civil Society by Francis Fukuyama
Berlin Wall, blue-collar work, Fall of the Berlin Wall, feminist movement, Francis Fukuyama: the end of history, George Akerlof, German hyperinflation, Jane Jacobs, Joseph Schumpeter, Kevin Kelly, labor-force participation, low skilled workers, p-value, Pareto efficiency, postindustrial economy, principal–agent problem, RAND corporation, Silicon Valley, The Death and Life of Great American Cities, transaction costs, World Values Survey
Thomas argue that the development of formal property rights in England and Holland in the sixteenth century was critical to the creation of modern capitalism and the informal norms supporting it.10 Conversely, Diego Gambetta argues that the absence of state-enforced property rights is the source of the pervasive culture of distrust in Sicily.11 Outside of the family, education is the next most important arena for socialization. Education produces a blizzard of different norms: it can lead to the spread of new ideologies or systematic ideas, but for the most part produces norms on a smaller scale. One of the most important sources of norms in a postindustrial economy is professional education, where engineers, doctors, lawyers, accountants, or architects not only are trained in their particular field of specialty, but are also socialized to obey certain behavioral norms concerning professional standards. 10 Douglass C. North and Robert P. Thomas, The Rise o f the Western W o r l d : A N e w Economic History (Cambridge: Cambridge University Press, 1973). 11 Diego Gambetta, The Sicilian Mafia: T h e Business of Private Protection (Cambridge: Harvard University Press, 1993). 464 Tanner Lectures on Human Values One specific use of law that plays a particularly important role in the shaping of social norms is public education.
The Option of Urbanism: Investing in a New American Dream by Christopher B. Leinberger
American Society of Civil Engineers: Report Card, asset allocation, big-box store, centre right, commoditize, credit crunch, David Brooks, desegregation, Donald Trump, drive until you qualify, edge city, full employment, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, knowledge economy, McMansion, mortgage tax deduction, new economy, New Urbanism, peak oil, Ponzi scheme, postindustrial economy, RAND corporation, Report Card for America’s Infrastructure, reserve currency, Richard Florida, Seaside, Florida, the built environment, transit-oriented development, urban planning, urban renewal, urban sprawl, walkable city, white flight
The boredom of having only the option of drivable sub-urban life, including the unintended consequences of ever longer and more congested commutes and the running of nearly every errand in a car, is not to be underestimated. T H E M A R K E T R E D I S C OV E R S WA L K A B L E U R B A N I S M | 9 1 Alongside these demographic changes, the economy has made a fundamental change. The new economy has been called many things: the virtual economy, the service economy, the postindustrial economy, the knowledge economy, and the creative economy. This has come to mean a focus on the up front, creative portion of a product or service development and the back-end marketing and distribution of that product or service. The actual production may be outsourced abroad, or it may be accomplished with fewer employees in this country due to advances in technology, which lead to increased productivity.
Social Democratic America by Lane Kenworthy
affirmative action, Affordable Care Act / Obamacare, barriers to entry, basic income, Celtic Tiger, centre right, clean water, collective bargaining, corporate governance, David Brooks, desegregation, Edward Glaeser, endogenous growth, full employment, Gini coefficient, hiring and firing, Home mortgage interest deduction, illegal immigration, income inequality, invisible hand, Kenneth Arrow, labor-force participation, manufacturing employment, market bubble, minimum wage unemployment, new economy, postindustrial economy, purchasing power parity, race to the bottom, rent-seeking, rising living standards, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, school choice, shareholder value, sharing economy, Skype, Steve Jobs, too big to fail, Tyler Cowen: Great Stagnation, union organizing, universal basic income, War on Poverty, working poor, zero day
Stimson. 2002. The Macro Polity. Cambridge, UK: Cambridge University Press. Ermisch, John, Markus Jäntti, and Timothy Smeeding, eds. 2012. From Parents to Children: The Intergenerational Transmission of Advantage. New York: Russell Sage Foundation. Esping-Andersen, Gøsta. 1990. The Three Worlds of Welfare Capitalism. Princeton, NJ: Princeton University Press. ———. 1999. Social Foundations of Postindustrial Economies. Oxford: Oxford University Press. ———. 2003. “Why No Socialism Anywhere? A Reply to Alex Hicks and Lane Kenworthy.” Socio-Economic Review 1: 63–70. ———. 2004. “Unequal Opportunities and the Mechanisms of Social Inheritance.” Pp. 289–314 in Generational Income Mobility in North America and Europe. Edited by Miles Corak. Cambridge, UK: Cambridge University Press. ———. 2009. The Incomplete Revolution.
The Rise of the Network Society by Manuel Castells
Apple II, Asian financial crisis, barriers to entry, Big bang: deregulation of the City of London, Bob Noyce, borderless world, British Empire, capital controls, complexity theory, computer age, computerized trading, creative destruction, Credit Default Swap, declining real wages, deindustrialization, delayed gratification, dematerialisation, deskilling, disintermediation, double helix, Douglas Engelbart, Douglas Engelbart, edge city, experimental subject, financial deregulation, financial independence, floating exchange rates, future of work, global village, Gunnar Myrdal, Hacker Ethic, hiring and firing, Howard Rheingold, illegal immigration, income inequality, Induced demand, industrial robot, informal economy, information retrieval, intermodal, invention of the steam engine, invention of the telephone, inventory management, James Watt: steam engine, job automation, job-hopping, John Markoff, knowledge economy, knowledge worker, labor-force participation, labour market flexibility, labour mobility, laissez-faire capitalism, Leonard Kleinrock, low skilled workers, manufacturing employment, Marc Andreessen, Marshall McLuhan, means of production, megacity, Menlo Park, moral panic, new economy, New Urbanism, offshore financial centre, oil shock, open economy, packet switching, Pearl River Delta, peer-to-peer, planetary scale, popular capitalism, popular electronics, post-industrial society, postindustrial economy, prediction markets, Productivity paradox, profit maximization, purchasing power parity, RAND corporation, Robert Gordon, Robert Metcalfe, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, social software, South China Sea, South of Market, San Francisco, special economic zone, spinning jenny, statistical model, Steve Jobs, Steve Wozniak, Ted Nelson, the built environment, the medium is the message, the new new thing, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, total factor productivity, trade liberalization, transaction costs, urban renewal, urban sprawl, zero-sum game
. —— and Borrus, Michael (1995a) Networks of American and Japanese Electronics Companies in Asia, Berkeley, CA: University of California, BRIE research paper. —— and ––— (1995b) Networks of Companies in Asia, Berkeley, CA: University of California, BRIE research paper. —— and Guerrieri, Paolo (1995) “The variable geometry of Asian trade”, in Eileen M. Doherty (ed.), Japanese Investment in Asia, Berkeley, CA: University of California, BRIE–Asia Foundation, pp. 189–208. —— and Zysman, John (1987) Manufacturing Matters: the Myth of Postindustrial Economy, New York: Basic Books. —— et al. (1985) Global Competition: the New Reality, vol. III of John Young (chair), Competitiveness: the Report of the President’s Commission on Industrial Competitiveness, Washington, DC: Government Printing Office, p. 1. Cohendet, P. and Llerena, P. (1989) Flexibilité, information et décision, Paris: Economica. Colas, Dominique (1992) La Glaive et le fléau: genéalogie du fanatisme et de la société civile.
. —— (1997) “From partial to systemic globalization: international production networks in the electronic industry”, Berkeley: University of California, BRIE working paper. —— and O’Connor, David (1992) Competing in the Electronics Industry: the Experience of Newly Industrializing Economies, Paris: OECD. Esping-Andersen, G. (ed.) (1993) Changing Classes, London: Sage. —— (1999) Social Foundations of Postindustrial Economies, Oxford: Oxford University Press. Estefania, Joaquin (1996) La nueva economia: La globalizacion, Madrid: Editorial Debate. Evans, Peter (1995) Embedded Autonomy: States and Industrial Transformation, Princeton, NJ: Princeton University Press. Fager, Gregory (1994) “Financial flows to the major emerging markets in Asia”, Business Economics, 29(2): 21–7. Fainstein, Susan S., Gordon, Ian and Harloe, Michael (eds.) (1992) Divided Cities, Oxford: Blackwell.
The Great Inversion and the Future of the American City by Alan Ehrenhalt
anti-communist, big-box store, British Empire, crack epidemic, David Brooks, deindustrialization, Edward Glaeser, Frank Gehry, haute cuisine, Honoré de Balzac, housing crisis, illegal immigration, Jane Jacobs, manufacturing employment, mass immigration, McMansion, New Urbanism, Norman Mailer, postindustrial economy, Richard Florida, The Chicago School, The Death and Life of Great American Cities, too big to fail, transit-oriented development, upwardly mobile, urban decay, urban planning, urban renewal, walkable city, white flight, working poor, young professional
As they do this, the center of the city becomes too expensive for the newest arrivals, and they settle in the neighborhoods just beyond and in the inner suburbs slightly farther away that are on convenient lines of transportation. These recently fading parts of town acquire a cachet, as Sheffield did in Chicago in the 1980s, and the poorer people who formerly lived in these communities move farther out to obtain cheaper housing. Demographic inversion has taken place. It’s not impossible to imagine this happening in Cleveland and Cleveland Heights. But it requires jobs—new ones in the postindustrial economy in numbers sufficient to replace the old ones in manufacturing. Cleveland has not been able to produce these jobs. In fact, the whole area has been losing them at an alarming pace. As the economist George Zeller reported from census data in mid-2010, in the years since 2000, Cleveland and surrounding Cuyahoga County had lost more than 130,000 jobs. There was little sign that well-paying jobs were emerging to replace them, as had happened in Chicago in the 1980s and 1990s.
Against Everything: Essays by Mark Greif
1960s counterculture, back-to-the-land, Bernie Madoff, citizen journalism, collateralized debt obligation, crack epidemic, Credit Default Swap, credit default swaps / collateralized debt obligations, deindustrialization, Desert Island Discs, Donald Trump, income inequality, informal economy, Norman Mailer, Ponzi scheme, postindustrial economy, Ronald Reagan, technoutopianism, telemarketer, trickle-down economics, upwardly mobile, white flight
In Mogadishu; at Mazar-i-Sharif or Tora Bora; in Nasiriyah, Najaf, Baghdad, and now Fallujah, we’ve seen what had been hidden since Vietnam—the way the US military currently trains and arms its best soldiers to fight on the ground, especially in urban or unconventional surroundings. Human bodies still do the face-to-face work of killing for the United States, just as in so many spheres of the postindustrial economy small populations are still needed to do the skilled or filthy work that machines cannot reach. The military becomes reliant on a small number of frontline fighters, heavily equipped with technology, who are rewarded with a special kind of status. And unfamiliar trappings do surround them. US soldiers wear body armor of great technical ingenuity, flexible, miraculous. They fight with powerful, almost preternatural weapons, in episodes of virtuosic slaughter, until they withdraw to safety.
The Geography of Nowhere: The Rise and Decline of America's Man-Made Landscape by James Howard Kunstler
A Pattern Language, blue-collar work, California gold rush, car-free, City Beautiful movement, corporate governance, Donald Trump, financial independence, fixed income, Ford paid five dollars a day, Frank Gehry, germ theory of disease, indoor plumbing, jitney, land tenure, mass immigration, means of production, megastructure, Menlo Park, new economy, oil shock, place-making, Plutocrats, plutocrats, postindustrial economy, Potemkin village, Ronald Reagan, urban planning, urban renewal, urban sprawl, Whole Earth Review, working poor, Works Progress Administration, yellow journalism
Unemployment climbed, especially in the building trades, and because of the gross overbuilding of the eighties, the government could not artificially stimulate more new construction with the same old tricks. Car sales plummeted-and anyway, half of American drivers owned foreign cars by now. In fact, most of the things that Americans bought, period, were manufactured elsewhere. The nation had entered what was being referred to as a postindustrial economy, but so far it was unclear exactly what that meant-perhaps people selling hamburgers and movie tickets at the mall to employees of other malls on their days off. This was a patent absurdity, of course, but without industries of some kind in America, the prospects for maintaining the consumer economy at the accustomed level seemed rather dim. The known global reserves of petroleum are expected to last roughly another thirty years.
Curation Nation by Rosenbaum, Steven
Amazon Mechanical Turk, Andrew Keen, barriers to entry, citizen journalism, cognitive dissonance, commoditize, creative destruction, crowdsourcing, disintermediation, en.wikipedia.org, future of journalism, Jason Scott: textfiles.com, means of production, PageRank, pattern recognition, postindustrial economy, pre–internet, Sand Hill Road, Silicon Valley, Skype, social graph, social web, Steve Jobs, Tony Hsieh, Yogi Berra
Today Keen remains passionate about professionalism and expertise as it relates to both content and curation, saying, “I still have faith in the meritocracy, that most things require training and require hierarchy. And most people can’t do most things, so you need to examine systems and professional organizations, and gatekeepers, and all the other infrastructure that is necessary for meritocracy to operate. For people who fly planes or people who are heart surgeons, or journalists, or film directors, in a professionalized, industrial—particularly a postindustrial—economy, there is a need for some sort of collective agreement on what determines expertise.” The irony of Keen’s rant is that while we all agree that airline pilots should have training and expertise and licenses, it’s hard to see how those same concerns or agreed standards should be held up by journalists or film directors. For example, some would say that Keen shouldn’t have an author’s license.
The Metropolitan Revolution: How Cities and Metros Are Fixing Our Broken Politics and Fragile Economy by Bruce Katz, Jennifer Bradley
3D printing, additive manufacturing, Affordable Care Act / Obamacare, British Empire, business climate, carbon footprint, clean water, cleantech, collapse of Lehman Brothers, deindustrialization, demographic transition, desegregation, double entry bookkeeping, edge city, Edward Glaeser, global supply chain, immigration reform, income inequality, industrial cluster, intermodal, Jane Jacobs, jitney, Kickstarter, knowledge economy, lone genius, Mark Zuckerberg, Masdar, megacity, Menlo Park, Moneyball by Michael Lewis explains big data, Network effects, new economy, New Urbanism, Occupy movement, place-making, postindustrial economy, purchasing power parity, race to the bottom, Richard Florida, Shenzhen was a fishing village, Silicon Valley, smart cities, smart grid, sovereign wealth fund, the built environment, The Death and Life of Great American Cities, the market place, The Spirit Level, Tony Hsieh, too big to fail, trade route, transit-oriented development, urban planning, white flight
When federal, state, and local agendas are in alignment, and distinct roles are clarified, the opportunities for success are dramatically increased.”30 TRADING ASSETS HIDDEN IN PLAIN SIGHT What American leaders have going for them are communities with rich, mostly hidden assets, ready to be leveraged and exploited for global purposes. In a country that watches Black Friday retail statistics like baseball scores and is convinced that it has a postindustrial economy that produces little, the real productive and innovative economy has surprising strengths. Those strengths, captured in earlier chapters, start with the tremendous innovative capacity in the United States, concentrated in metropolitan areas because of the special mix of firms, workers, and institutions that foster innovation. This metropolitan capacity to innovate constantly on products and services is the essential foundation for trade and exchange.
agricultural Revolution, AI winter, Albert Einstein, Asilomar, augmented reality, Bill Joy: nanobots, bioinformatics, blue-collar work, British Empire, Brownian motion, cloud computing, Colonization of Mars, DARPA: Urban Challenge, delayed gratification, double helix, Douglas Hofstadter, en.wikipedia.org, friendly AI, Gödel, Escher, Bach, hydrogen economy, I think there is a world market for maybe five computers, industrial robot, Intergovernmental Panel on Climate Change (IPCC), invention of movable type, invention of the telescope, Isaac Newton, John Markoff, John von Neumann, life extension, Louis Pasteur, Mahatma Gandhi, Mars Rover, mass immigration, megacity, Murray Gell-Mann, new economy, oil shale / tar sands, optical character recognition, pattern recognition, planetary scale, postindustrial economy, Ray Kurzweil, refrigerator car, Richard Feynman, Richard Feynman, Rodney Brooks, Ronald Reagan, Search for Extraterrestrial Intelligence, Silicon Valley, Simon Singh, speech recognition, stem cell, Stephen Hawking, Steve Jobs, telepresence, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, trade route, Turing machine, uranium enrichment, Vernor Vinge, Wall-E, Walter Mischel, Whole Earth Review, X Prize
Many high-paying, skilled service-sector jobs go unfilled for lack of qualified candidates. Often, the educational system does not produce enough skilled workers, so companies have to cope with a less-educated workforce. Corporations go begging for skilled workers whom the educational system often does not produce. Even in a depressed economy, there are jobs that go unfilled by skilled workers. But one thing is clear. In a postindustrial economy, many of the old blue-collar factory jobs are gone for good. Over the years, economists have toyed with the idea of “reindustrializing America,” until they realize that you cannot turn back the hands of time. The United States and Europe went through the transition from a largely industrial to a service economy decades ago, and this historic shift cannot be reversed. The heyday of industrialization has passed, forever.
1960s counterculture, A Declaration of the Independence of Cyberspace, Apple's 1984 Super Bowl advert, back-to-the-land, bioinformatics, Buckminster Fuller, Claude Shannon: information theory, complexity theory, computer age, conceptual framework, Danny Hillis, dematerialisation, distributed generation, Douglas Engelbart, Douglas Engelbart, Dynabook, Electric Kool-Aid Acid Test, From Mathematics to the Technologies of Life and Death, future of work, game design, George Gilder, global village, Golden Gate Park, Hacker Ethic, Haight Ashbury, hive mind, Howard Rheingold, informal economy, invisible hand, Jaron Lanier, John Markoff, John von Neumann, Kevin Kelly, knowledge economy, knowledge worker, market bubble, Marshall McLuhan, mass immigration, means of production, Menlo Park, Mother of all demos, new economy, Norbert Wiener, peer-to-peer, post-industrial society, postindustrial economy, Productivity paradox, QWERTY keyboard, Ralph Waldo Emerson, RAND corporation, Richard Stallman, Robert Shiller, Robert Shiller, Ronald Reagan, Shoshana Zuboff, Silicon Valley, Silicon Valley ideology, South of Market, San Francisco, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, technoutopianism, Ted Nelson, Telecommunications Act of 1996, theory of mind, urban renewal, Vannevar Bush, Whole Earth Catalog, Whole Earth Review, Yom Kippur War
In the late 1960s, many ﬂed Haight-Ashbury for the hills of New Mexico hoping not only to found an alternative society but also to ﬁnd a way to escape having their own lives shaped by the forces of society at large. Across the 1970s and 1980s, as the communes of the back-to-the-land movement crumbled and disappeared, Stewart Brand and the entrepreneurs of the Whole Earth group preserved these hopes by welding them to the computer technologies and ﬂexible organizational practices of the rapidly emerging postindustrial economy. By the 1990s, it seemed to many as if the digital networks on [ 256 ] Chapter 8 which that economy increasingly depended would in fact bring to life the New Communalist dream of breaking the bonds of institutional power and freeing individuals to pursue their own holistic lives. Even today, discussions of digital technologies and the network economy continue to invoke New Communalist ideals.
Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else by Chrystia Freeland
activist fund / activist shareholder / activist investor, Albert Einstein, algorithmic trading, assortative mating, banking crisis, barriers to entry, Basel III, battle of ideas, Bernie Madoff, Big bang: deregulation of the City of London, Black Swan, Branko Milanovic, Bretton Woods, BRICs, business climate, call centre, carried interest, Cass Sunstein, Clayton Christensen, collapse of Lehman Brothers, commoditize, conceptual framework, corporate governance, creative destruction, credit crunch, Credit Default Swap, crony capitalism, Deng Xiaoping, don't be evil, double helix, energy security, estate planning, experimental subject, financial deregulation, financial innovation, Flash crash, Frank Gehry, Gini coefficient, global village, Goldman Sachs: Vampire Squid, Gordon Gekko, Guggenheim Bilbao, haute couture, high net worth, income inequality, invention of the steam engine, job automation, John Markoff, joint-stock company, Joseph Schumpeter, knowledge economy, knowledge worker, liberation theology, light touch regulation, linear programming, London Whale, low skilled workers, manufacturing employment, Mark Zuckerberg, Martin Wolf, Mikhail Gorbachev, Moneyball by Michael Lewis explains big data, NetJets, new economy, Occupy movement, open economy, Peter Thiel, place-making, Plutocrats, plutocrats, Plutonomy: Buying Luxury, Explaining Global Imbalances, postindustrial economy, Potemkin village, profit motive, purchasing power parity, race to the bottom, rent-seeking, Rod Stewart played at Stephen Schwarzman birthday party, Ronald Reagan, self-driving car, short selling, Silicon Valley, Silicon Valley startup, Simon Kuznets, Solar eclipse in 1919, sovereign wealth fund, stem cell, Steve Jobs, the new new thing, The Spirit Level, The Wealth of Nations by Adam Smith, Tony Hsieh, too big to fail, trade route, trickle-down economics, Tyler Cowen: Great Stagnation, wage slave, Washington Consensus, winner-take-all economy, zero-sum game
This is what economists call the “superstar” effect—the tendency of both technological change and globalization to create winner-take-all economic tournaments in many sectors and companies, where being the most successful in your field delivers huge rewards, but coming in second place, and certainly in fifth or tenth, has much less economic value. The triumph of the nerds is intuitively obvious in the postindustrial economies of the developed West, where brains have had more value than brawn for a couple of generations. But in today’s era of the twin gilded ages, the triumph of the intellectuals is a global phenomenon. The highly educated are in the vanguard of India’s outsourcing miracle; the intellectuals, especially their “technical” branch, are very much in charge in communist China; and even the Russian oligarchs, who are better known in the West for their yachts and supermodel consorts, overwhelmingly have advanced degrees in math and physics.
Iron Sunrise by Stross, Charles
blood diamonds, dumpster diving, gravity well, hiring and firing, industrial robot, life extension, loose coupling, mass immigration, mutually assured destruction, phenotype, planetary scale, postindustrial economy, RFID, side project, speech recognition, technological singularity, trade route, uranium enrichment, urban sprawl, zero-sum game
The exiles hadn’t simply been dumped on any available world; in almost all cases, they’d been planted in terrain that was not too hostile, showing crude signs of recent terraforming. And the Eschaton had given them gifts: cornucopias, robot factories able to produce any designated goods to order, given enough time, energy, and raw materials. Stocked with a library of standard designs, a cornucopia was a general-purpose tool for planetary colonization. Used wisely, they enabled many of the scattered worlds to achieve a highly automated postindustrial economy within years. Used unwisely, they enabled others to destroy themselves. A civilization that used its cornucopia to produce nuclear missiles instead of nuclear reactors — and more cornucopias — wasn’t likely to outlast the first famine, let alone the collapse of civilization that was bound to follow when one faction or another saw the cornucopia as a source of military power and targeted it.
Terms of Service: Social Media and the Price of Constant Connection by Jacob Silverman
23andMe, 4chan, A Declaration of the Independence of Cyberspace, Airbnb, airport security, Amazon Mechanical Turk, augmented reality, basic income, Brian Krebs, California gold rush, call centre, cloud computing, cognitive dissonance, commoditize, correlation does not imply causation, Credit Default Swap, crowdsourcing, don't be evil, drone strike, Edward Snowden, feminist movement, Filter Bubble, Firefox, Flash crash, game design, global village, Google Chrome, Google Glasses, hive mind, income inequality, informal economy, information retrieval, Internet of things, Jaron Lanier, jimmy wales, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, late capitalism, license plate recognition, life extension, lifelogging, Lyft, Mark Zuckerberg, Mars Rover, Marshall McLuhan, mass incarceration, meta analysis, meta-analysis, Minecraft, move fast and break things, move fast and break things, national security letter, Network effects, new economy, Nicholas Carr, Occupy movement, optical character recognition, payday loans, Peter Thiel, postindustrial economy, prediction markets, pre–internet, price discrimination, price stability, profit motive, quantitative hedge fund, race to the bottom, Ray Kurzweil, recommendation engine, rent control, RFID, ride hailing / ride sharing, self-driving car, sentiment analysis, shareholder value, sharing economy, Silicon Valley, Silicon Valley ideology, Snapchat, social graph, social web, sorting algorithm, Steve Ballmer, Steve Jobs, Steven Levy, TaskRabbit, technoutopianism, telemarketer, transportation-network company, Turing test, Uber and Lyft, Uber for X, universal basic income, unpaid internship, women in the workforce, Y Combinator, Zipcar
Through the phone’s sheer materiality, it reminds us that data is now encoded into the air around us, ready to be called upon. We live amid an atmosphere of information. It’s numinous, spectral, but malleable. This sense of enchantment explains why every neoliberal dispatch from a remote African village must note the supposedly remarkable presence of cell phones. They too have access to information, that precious resource of postindustrial economies. All of this is part of what I call the informational appetite. It’s our total faith in raw data, in the ability to extract empirical certainties about life’s greatest mysteries, if only one can deduce the proper connections. When the informational appetite is layered over social media, we get the messianic digital humanitarianism of Mark Zuckerberg. Connectivity becomes a human right; Facebook, we are told, can help stop terrorism and promote peace.
The America That Reagan Built by J. David Woodard
affirmative action, anti-communist, Ayatollah Khomeini, Berlin Wall, Bonfire of the Vanities, colonial rule, Columbine, corporate raider, cuban missile crisis, Deng Xiaoping, friendly fire, glass ceiling, global village, Gordon Gekko, gun show loophole, income inequality, invisible hand, Jeff Bezos, laissez-faire capitalism, late capitalism, Live Aid, Marc Andreessen, Mikhail Gorbachev, mutually assured destruction, Neil Kinnock, new economy, postindustrial economy, Ralph Nader, Robert Bork, Ronald Reagan, Ronald Reagan: Tear down this wall, Rubik’s Cube, Silicon Valley, South China Sea, stem cell, Ted Kaczynski, The Predators' Ball, trickle-down economics, women in the workforce, Y2K, young professional
The president realized that the spirit of the nation was more important than any monthly statistics measuring economic progress, or poll results showing presidential popularity. Reagan’s job was to inspire confidence in the future and reassure the country that things were going to work out. The optimism was not a trivial quality; instead, it was an essential approach to life that had carried him from Dixon, Illinois, to Hollywood and the White House. With him as actor the country was one vast stage. He translated the complexities of a postindustrial economy into phrases and stories that people could understand. Often the stories, while compelling from a political standpoint, were pure fiction. Reagan confused scenes from movies with real events. The most famous of these gaffes was a story he used in the 1976 and 1980 campaigns, and 42 THE AMERICA THAT REAGAN BUILT repeated in 1983 at the annual convention of Congressional Medal of Honor winners.
The end of history and the last man by Francis Fukuyama
affirmative action, anti-communist, Ayatollah Khomeini, Berlin Wall, Bonfire of the Vanities, centre right, cuban missile crisis, deindustrialization, Deng Xiaoping, European colonialism, F. W. de Klerk, Fall of the Berlin Wall, Francis Fukuyama: the end of history, full employment, Gini coefficient, Gunnar Myrdal, Hernando de Soto, income inequality, Isaac Newton, Joseph Schumpeter, kremlinology, labour mobility, land reform, long peace, Mikhail Gorbachev, nuclear winter, open economy, post-industrial society, postindustrial economy, RAND corporation, Ronald Reagan, Socratic dialogue, strikebreaker, the scientific method, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, zero-sum game
Even a strong w o r k ethic can be destroyed t h r o u g h social and economic policies that deny people personal incentives to work, and re-creating it can be extremely difficult. A s we will see in Part Four below, t h e r e is good reason to believe that the strong w o r k ethic of many societies is not the result of the modernization process, but rather is a holdover f r o m Accumulation without End 95 that society's p r e - m o d e r n culture and traditions. Having a strong work ethic may not be an absolute condition for a successful "postindustrial" economy, but it certainly helps, and may become a critical counterweight to the tendency of such economies to em phasize consumption over production. It has been a common expectation that the technocratic im peratives of industrial maturity would eventually lead to a soft ening of communist central control, and its replacement by m o r e liberal, market-oriented practices. T h e j u d g m e n t of Ray mond A r o n that "technological complexity will strengthen the managerial class at the expense of the ideologists and militants" echoed an earlier one that technocrats would be the "gravediggers of communism."
Empire by Michael Hardt, Antonio Negri
Berlin Wall, Bretton Woods, collective bargaining, colonial rule, conceptual framework, discovery of the americas, Dissolution of the Soviet Union, equal pay for equal work, European colonialism, Fall of the Berlin Wall, feminist movement, Francis Fukuyama: the end of history, global village, Haight Ashbury, informal economy, invention of the printing press, invisible hand, labour mobility, late capitalism, low skilled workers, mass immigration, means of production, Monroe Doctrine, New Urbanism, open borders, Peace of Westphalia, post-industrial society, postindustrial economy, Scramble for Africa, The Wealth of Nations by Adam Smith, union organizing, urban planning, William of Occam
Whereas the process of modernization was indicated by a migration of labor from agriculture and mining (the primary sector) to industry (the secondary), the process of postmodernization or informatization has been demonstrated through the migration from industry to service jobs (the tertiary), a shift that has taken place in the dominant capitalist countries, and particularly in the United States, since the early 1970s. Services cover a wide range of activities from health care, education, and ﬁnance to transportation, entertainment, and advertising. The jobs for the most part are highly mobile and involve ﬂexible skills. More important, they are characterized in general by the central role played by knowledge, information, affect, and communication. In this sense many call the postindustrial economy an informational economy. The claim that modernization is over and that the global economy is today undergoing a process of postmodernization toward an informational economy does not mean that industrial production will be done away with or even that it will cease to play an important role, even in the most dominant regions of the globe. Just as the processes of industrialization transformed agriculture and made it more productive, so too the informational revolution will transform industry by redeﬁning and rejuvenating manufacturing processes.
Hard Landing by Thomas Petzinger, Thomas Petzinger Jr.
airline deregulation, centralized clearinghouse, collective bargaining, cross-subsidies, desegregation, Donald Trump, feminist movement, index card, low cost carrier, low skilled workers, Marshall McLuhan, means of production, mutually assured destruction, Network effects, offshore financial centre, oil shock, Ponzi scheme, postindustrial economy, price stability, profit motive, Ralph Nader, Ronald Reagan, Silicon Valley, strikebreaker, the medium is the message, The Predators' Ball, Thomas L Friedman, union organizing, yield management, zero-sum game
Every other airline in America was either bankrupt, in business against British Airways, or already hitched up with a European counterpart—except for USAir. It was, if nothing else, a survivor. USAir by 1992 was the last of the original local-service operators. Few airlines had been more brilliantly managed or more consistently profitable in the years immediately preceding and following deregulation. Much of its success was due to its near-monopoly of Pittsburgh, which flourished as a medical and high technology center in the postindustrial economy of the 1980s. Pittsburgh was also one of the country’s most valuable hubs, perfectly situated among the Great Lakes, New England, and mid-Atlantic regions. USAir was a short-haul airline, Chairman Ed Colodny liked to say, “because that’s the way the country’s built east of the Mississippi River.” Colodny assiduously resisted major acquisitions until, in the late 1980s, it was clear that USAir either had to begin swallowing other airlines or be devoured itself.