Word of the Day: Freeconomics

Thursday, June 12, 2008 | 03:30 PM

Today's word of the day, via Wordspy:

Earliest Citation:

I begin my economics of abundance speech with Carver Mead's mind-bending question: "What happens when things get (nearly) free?" His answer is that you waste them, be they transistors or megabytes of bandwidth capacity. You use them profligately, extravagantly, irresponsibly. You shift out of conservation mode and get into exploitation mode. You do crazy things like offering people the ability to put their whole music collection in their pocket, or promising the average email user that they'll never have to delete another message to conserve space. ...

With apologies to Levitt and Dubner, I'll cheekily call the emerging realization that abundance is driving our world "freeconomics".

—Chris Anderson, "The rise of 'freeconomics'," The Long Tail, November 26, 2006

Anderson is working on a new book called Free! Why $0.00 Is the Future of Business

Thursday, June 12, 2008 | 03:30 PM | Permalink | Comments (9) | TrackBack (0)
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Yep. That about says it all.

Posted by: Jonathan | Jun 12, 2008 4:06:33 PM

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