The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

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The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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In The Zero Marginal Cost Society, New York Times bestselling author Jeremy Rifkin describes how the emerging Internet of Things is speeding us to an era of nearly free goods and services, precipitating the meteoric rise of a global Collaborative Commons and the eclipse of capitalism.

 

Rifkin uncovers a paradox at the heart of capitalism that has propelled it to greatness but is now taking it to its death—the inherent entrepreneurial dynamism of competitive markets that drives productivity up and marginal costs down, enabling businesses to reduce the price of their goods and services in order to win over consumers and market share. (Marginal cost is the cost of producing additional units of a good or service, if fixed costs are not counted.) While economists have always welcomed a reduction in marginal cost, they never anticipated the possibility of a technological revolution that might bring marginal costs to near zero, making goods and services priceless, nearly free, and abundant, and no longer subject to market forces.

 

Now, a formidable new technology infrastructure—the Internet of things (IoT)—is emerging with the potential of pushing large segments of economic life to near zero marginal cost in the years ahead. Rifkin describes how the Communication Internet is converging with a nascent Energy Internet and Logistics Internet to create a new technology platform that connects everything and everyone. Billions of sensors are being attached to natural resources, production lines, the electricity grid, logistics networks, recycling flows, and implanted in homes, offices, stores, vehicles, and even human beings, feeding Big Data into an IoT global neural network. Prosumers can connect to the network and use Big Data, analytics, and algorithms to accelerate efficiency, dramatically increase productivity, and lower the marginal cost of producing and sharing a wide range of products and services to near zero, just like they now do with information goods.

 

The plummeting of marginal costs is spawning a hybrid economy—part capitalist market and part Collaborative Commons—with far reaching implications for society, according to Rifkin. Hundreds of millions of people are already transferring parts of their economic lives to the global Collaborative Commons. Prosumers are plugging into the fledgling IoT and making and sharing their own information, entertainment, green energy, and 3D-printed products at near zero marginal cost. They are also sharing cars, homes, clothes and other items via social media sites, rentals, redistribution clubs, and cooperatives at low or near zero marginal cost. Students are enrolling in free massive open online courses (MOOCs) that operate at near zero marginal cost. Social entrepreneurs are even bypassing the banking establishment and using crowdfunding to finance startup businesses as well as creating alternative currencies in the fledgling sharing economy. In this new world, social capital is as important as financial capital, access trumps ownership, sustainability supersedes consumerism, cooperation ousts competition, and “exchange value” in the capitalist marketplace is increasingly replaced by “sharable value” on the Collaborative Commons.

 

Rifkin concludes that capitalism will remain with us, albeit in an increasingly streamlined role, primarily as an aggregator of network services and solutions, allowing it to flourish as a powerful niche player in the coming era. We are, however, says Rifkin, entering a world beyond markets where we are learning how to live together in an increasingly interdependent global Collaborative Commons.

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The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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100% Money Back Guarantee. Brand New, Perfect Condition. We offer expedited shipping to all US locations. Over 3, 000, 000 happy customers. Glued binding. Paper over boards. With dust jacket. 356 p.

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The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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Publisher: Palgrave Macmillan Trade

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Book The book looks like new, unread and clean. Edges are sharp and fine. No tears or creases. No stains, writing or reminder marks. The binding is straight and tight. The book itself is very nice. Shipping is normally same day from our Canadian warehouse. Customer satisfaction is our priority. The capitalist era is passing-not quickly, but inevitably. Rising in its wake is a new global collaborative Commons that will fundamentally transform our way of life. Ironically, capitalism s demise is not coming at the hands of hostile external forces. Rather, The Zero Marginal Cost Society argues, capitalism is a victim of its own success. Intense competition across sectors of the economy is forcing the introduction of ever newer technologies. Bestselling author Jeremy Rifkin explains that this competition is boosting productivity to its optimal point where the marginal cost of producing additional units is nearly zero, which makes the product essentially free. In turn, profits are drying up, property ownership is becoming meaningless, and an economy based on scarcity is giving way to an economy of abundance, changing the very nature of society. Rifkin describes how hundreds of millions of people are already transferring parts of their economic lives from capitalist markets to global networked Commons. Prosumers are producing their own information, entertainment, green energy, and 3-D printed products at nearly zero marginal cost, and sharing them via social media sites, rentals, redistribution clubs, bartering networks, and cooperatives. Meanwhile, students are enrolling in massive open online courses (MOOCs) that also operate at near-zero marginal cost. And young social entrepreneurs are establishing ecologically sensitive businesses, crowdsourcing capital, and even creating alternative currencies in the new sharable economy. As a result, exchange value in the marketplace-long the bedrock of our economy-is increasingly being replaced by use value on the collaborative Commons. In this new era, identity is less bound to what one owns and more to what one shares. Cooperation replaces self-interest, access trumps ownership, and networking drubs autonomy. Rifkin concludes that while capitalism will be with us for at least the next half century, albeit in an increasingly diminished role, it will no longer be the dominant paradigm. We are, Rifkin says, entering a world beyond markets where we are learning how to live together collaboratively and sustainably in an increasingly interdependent global Commons.

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The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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The Zero Marginal Cost Society

The Zero Marginal Cost Society

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The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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Glued binding. Paper over boards. With dust jacket. 356 p.

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The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

The Zero Marginal Cost Society: the Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism

by Jeremy Rifkin

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The Zero Marginal Cost Society

The Zero Marginal Cost Society

by Jeremy Rifkin

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