STOCK MARKET WATCH -- Tuesday, 22 April 2014

[Demeter]

14. The New Economic Events Giving Lie to the Fiction That We Are All Selfish, Rational Materialists

http://www.alternet.org/economy/were-about-enter-whole-new-era-economics-and-its-going-make-everyone-feel-lot-more-wealthy?akid=11716.227380.FCt7My&rd=1&src=newsletter981596&t=8





Jeremy Rifkin's new book, “The Zero Marginal Cost Society,” brings welcome new attention to the commons just as it begins to explode in countless new directions. His book focuses on one of the most significant vectors of commons-based innovation — the Internet and digital technologies — and documents how the incremental costs of nearly everything is rapidly diminishing, often to zero. Rifkin explored the sweeping implications of this trend in an excerpt from his book and points to the "eclipse of capitalism" in the decades ahead.

But it's worth noting that the commons is not just an Internet phenomenon or a matter of economics. The commons lies at the heart of a major cultural and social shift now underway. People's attitudes about corporate property rights and neoliberal capitalism are changing as cooperative endeavors — on digital networks and elsewhere — become more feasible and attractive. This can be seen in the proliferation of hackerspaces and Fablabs, in the growth of alternative currencies, in many land trusts and cooperatives and in seed-sharing collectives and countless natural resource commons.

Beneath the radar screen of mainstream politics, which remains largely clueless about such cultural trends on the edge, a new breed of commoners is building the vision of a very different kind of society, project by project. This new universe of social activity is being built on the foundation of a very different ethics and social logic than that of homo economicus — the economist's fiction that we are all selfish, utility-maximizing, rational materialists.

Durable projects based on social cooperation are producing enormous amounts of wealth; it's just that this wealth is not generally not monetized or traded. It's socially or ecologically embedded wealth that is managed by self-styled commoners themselves. Typically, such commoners act more as stewards of their common wealth than as owners who treat it as private capital. Commoners realize that a life defined by impersonal transactions is not as rich or satisfying as one defined by abiding relationships. The larger trends toward zero-marginal-cost production make it perfectly logical for people to seek out commons-based alternatives. ...MORE