(2011-06-30) Rao Rader Four Economies Transaction Gift Attention Relationship

Venkatesh Rao linkblogs Gregory Rader on "the" FourEconomies: Transaction Economy, Gift Economy, Attention Economy, Relationship Economy. Clearly we need a better way to frame these concepts. What is alternative currency? What is a gift economy? What is the attention economy? How can we systematically explain the economic impact of user-generated content or peer-to-peer exchange? The terms, ‘user generated’ and ‘peer-to-peer’ might as well be defined as ‘not professional’ and ‘not corporate’, respectively.

Rao thinks this might play a role in defining/measuring Coasean Growth per 2011-06-10-RaoHistoryOfCorporation. By constructing measures of growth that comprehend all 4 quadrants, you will naturally get a personalized measure of wealth, income and growth. You can then possibly use that to bootstrap measures of wealth and capital at the level of nations and corporations.

Jan12'2012 Rader updates

• tweaking 1 dimension: Legibility vs Refinement
• reframing Gift Economy as Political Economy: The political arena incorporates all the social/economic dynamics applicable to refined/legible exchange between related parties...

Feb07 update on Evolution among these economies (as the alternative to Collapse), reminding me of the "Turning Point" thinking in Technological Revolutions And Financial Capital. If seeds of the next paradigm can be sprouted in advance, twin technological and socioeconomic revolutions may gain momentum in reaction to the cracks emerging in the existing paradigm.