Western economies are largely becoming service based economies, and irreversibly so, the US cannot compete globally in manufacturing and production, as witnessed by the huge subsidies to farming or steel manufacture.
What if many of the services that rely on information technology are not economically viable in the long run? What if never ending cheapness created by the applicability of Moores Law and lack of scarcity in digital media conspire to create hyper-deflation?
Kevin Werbach recently delivered “the notion that many media organizations currently depend on their revenues through the assumption of