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Hello Ian,
Ian said:
This 'radical new view' is kinda old hat. But I guess it helps sell to
people who haven't cracked open any economics books or articles in a
while....
Didier replies:
Sorry Ian, Too hard to resist commenting this even if it is out of the XML
world (or maybe not that much after all).
It is indeed radical because the actual no-classical and dominant theories
are about supply and demand and efficient markets. The former based on the
equilibrium and the latter on rational homo economicus.
It is radical in the sense that most of the economics literature of the last
100 years is more about wealth sharing than wealth creation. It is radical
in the sense that it poses the hypothesis that wealth creation is based on
three elements: differentiation (new stuff, mutation), selection (survival
of the fittest) and amplification (more of it because it's more adapted to
the environment). It's not that the supply and demand theory is wrong it is
only that it doesn't state a theory about "how do we create wealth"?
Concrete reality in the XML world.
Where should you invest your time to create wealth for yourself (wealth
being better employability, better business success). XAML, AJAX another XML
based language? Or simply consider that XML is dead and Java will take the
world? How do you know what will win?
Another take is to get real options in a couple of these technologies or a
big bet on a single one. You're in 2010, what is useful for you, what
survived?
It is radical indeed; it is future oriented and states the economics as an
evolution system. Off course, some will prefer to believe in intelligent
design mechanism :-)
Cheers
Didier PH Martin
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