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How Information is Liberating the Economy from the Tyranny of the Firm and Enabling a New Prosperity
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Viktor Mayer-Schönberger
"Viktor Mayer-Schönberger (born 1966) is Professor of Internet Governance and Regulation at the Oxford Internet Institute, University of Oxford. He conducts research into the network economy. Earlier he spent ten years on the faculty of Harvard's John F. Kennedy School of Government. He is the co-author of Big Data: A Revolution That Will Transform How We Live, Work, and Think (HMH, 2013) and author of Delete: The Virtue of Forgetting in the Digital Age (Princeton, 2009), which won the 2010 Marshall McLuhan Award for Outstanding Book and the 2010 Don K. Price Award for Best Book in Science and Technology Politics, and has written over a hundred articles and book chapters.
Markets have long been acknowledged to be a superior mechanism for managing resources but until the advent of big data, they largely functioned better in theory than in practice. Now, as ideal markets are within reach because of vastly greater access to information, we are on the verge of a major disruption. As data becomes a more valuable asset than cash, the rules for surviving and thriving are changing.
Reinventing Capitalism is a provocative look at how data is reinventing markets and, in so doing, is ushering in an era where the firm is no longer predominant. With richer and more comprehensive information about human wants and needs, an economy powered by data offers the possibility of increased abundance, equality, and resilience. The data-driven markets that will thrive in this environment are far better than firms at organizing human endeavors, meaning that finance driven capitalism is being displaced by its more efficient, moresustainable, and more democratic disruptor: data capitalism.
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