Synopses & Reviews
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.
Review
Praise for The Third Industrial Revolution:
"Jeremy Rifkin argues that green energy and the internet will revolutionize society and the environment...With the European Union already on board, this is a big idea with backbone."—Nature
“An indispensable roadmap.” —Arianna Huffington
Review
“The Zero Marginal Cost Society confirms Jeremy Rifkin as peerless visionary of technological trends. The future arrives only to fill in the sketches that Rifkin so ably draws. I highly recommend as a cure for those who are perplexed about the future of technology.” —Calestous Juma, Harvard Belfer Center for Science and International Affairs, John F. Kennedy School
“This breathtaking book connects some of today's most compelling technology-driven trends into a five-hundred-year spiral from commons to capitalism and back. Rifkin has produced an intellectual joyride that takes us to the threshold of a new economic order.” —Kevin Werbach, The Wharton School, University of Pennsylvania
Review
“Admirable in its scope...what makes The Zero Marginal Cost Society worth reading is its audacity, its willingness to weave a vast string of developments into a heartening narrative of what our economic future may hold for the generations to come. You can call it naive, but its much more than that. It's hopeful."—Fortune
“A thought-provoking read that pushes some of the most important new technologies to their logical-and sometimes scary-conclusions…The value of this book… doesn't lie in the accuracy of its specific forecasts, but rather in the extrapolations of current trends that enable Rifkin to reach them. If Rifkins predictions have value... it is in bringing home the extent of the technologically induced upheaval that may lie ahead. How we deal with the consequences is up to us. A grand unifying theory of [Rifkins] thinking over four decades.” —The Financial Times
"[An] illuminating new book…Rifkin is very good on the historical origins of the giant, vertically integrated organizations that dominated the 20 Century economy. [He] makes a powerful case that from a longer-term perspective, it is these giant hierarchies that are the anomalies of economic history. The shredding of vertical value chains, the creation of vast new horizontal value chains, and the social change of people preferring access to ownership…bring massive economic and social changes to business and society, the implications of which [are] only beginning to be glimpsed. For Rifkin, the shifts are positive and huge.”—Forbes
“Jeremy Rifkin offers an ambitious and optimistic image of how a commons-based, collaborative model of the economy could displace industrial capitalism when the economic and social practices of the Internet are extended to energy, logistics, and material fabrication. Even skeptical readers, concerned with the ubiquitous surveillance and exquisite social control that these same technologies enable, should find the vision exhilarating and its exposition thought provoking.”—Yochai Benkler, Harvard Law School
“This breathtaking book connects some of today's most compelling technology-driven trends into a five-hundred-year spiral from commons to capitalism and back. Rifkin has produced an intellectual joyride that takes us to the threshold of a new economic order.”—Kevin Werbach, the Wharton School
“The Zero Marginal Cost Society confirms Jeremy Rifkin as the peerless visionary of technological trends. The future arrives only to fill in the sketches that Rifkin so ably draws. I highly recommend this book as a cure for those who are perplexed about the future of technology.”—Calestous Juma, John F. Kennedy School of Government, Harvard University
“In his latest work, Jeremy Rifkin turns his gaze on the world in which almost everything has a marginal cost approaching zero, asking what the implications are for our economy and the environment. Rifkins radical conclusions—foretelling the eclipse of our current economic system and the rise of the "collaboratists"—will make this one of the most discussed books of the year.”—James Boyle, the Center for the Study of the Public Domain, Duke Law School
“Jeremy Rifkin takes us on a whirlwind tour of our past and future, making the undeniable case for our growing, global collaborative destiny. I dare you to read this book and not rethink your future!”—Lisa Gansky, author of The Mesh: Why the Future of Business is Sharing
"A comprehensive exploration of the implications of anyone being able to make anything"—Neil Gershenfeld, Director, MIT Center for Bits and Atoms
“An amazing work…This insightful, surprising, and practical book helps us understand how the emerging Internet of Things is driving extreme productivity, the rush to a near zero marginal cost society, and the rise of a new economic paradigm. Rifkin solves the puzzle of what companies, nonprofit organizations, and governments need to do to reposition themselves on the new Collaborative Commons. The book is a must read for every citizen and decision maker.”—Jerry Wind, the Wharton School
“Free-market traditionalists have trouble recognizing that the future of governance and economics lies with the Commons—a world of collaboration, sharing, ecological concern and human connection. Jeremy Rifkin deftly describes the powerful forces that are driving this new paradigm and transforming our personal lives and the economy. A highly readable account of the next big turn of the wheel.”—David Bollier, author of Think Like a Commoner: A Short Introduction to the Life of the Commons
"Brilliantly tackled…Rifkin describes how the dramatic lowering of transaction, communication, and coordination costs allow the global scaling of small group dynamics, fundamentally changing the choices that humanity can make for its social organization. Read it, rejoice, and take action to build the new world in which the market and the state are not destroying the commons, but aligned with it."—Michel Bauwens, Founder, P2P Foundation
"Jeremy Rifkin has always been ahead of the curve. In The Zero Marginal Cost Society, Rifkin takes us on a journey to the future, beyond consumerism to "prosumers" who produce what they consume and share what they have on a Collaborative Commons, a contemporary expression of Gandhi's "Swadeshi.” His down to earth vision of democratizing innovation and creativity on a global scale, for the wellbeing of all, is inspiring and, equally important, doable.”—Vandana Shiva, Environmental Activist and recipient of the Right Livelihood Award
Synopsis
New York Times bestselling author Jeremy Rifkin explores how todays unprecedented interconnectedness is making core institutions such as private property, democracy, and national boundaries irrelevant—and explains what will replace them
Synopsis
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, capitalisms 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.
Synopsis
In The Zero Marginal Cost Society, New York Times bestselling author Jeremy Rifkin argues that the capitalist era is passing—not quickly, but inevitably. The emerging Internet of Things is giving rise to a new economic system—the Collaborative Commons—that will transform our way of life.
In his provocative new book, The Zero Marginal Cost Society, Mr. Rifkin argues that the coming together of the Communication Internet with the fledgling Energy Internet and Logistics Internet in a seamless 21st century intelligent infrastructure—the Internet of Things—is boosting productivity to the point where the marginal cost of producing many goods and services is nearly zero, making them essentially free. The result is corporate profits are beginning to dry up, property rights are weakening, and the conventional mindset of scarcity is slowly giving way to the possibility of abundance. The zero marginal cost phenomenon is spawning a hybrid economy—part capitalist market and part Collaborative Commons—with far reaching implications for society.
Rifkin describes how hundreds of millions of people are already transferring parts of their economic lives from capitalist markets to what he calls the global “Collaborative Commons.” “Prosumers” are making and sharing their own information, entertainment, green energy, and 3-D 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 even enrolling in free massive open online courses (MOOCs) that operate at near zero marginal cost. And young social entrepreneurs are establishing ecologically sensitive businesses using crowdfunding as well as creating alternative currencies in the new sharing economy. In this new world, social capital is as important as finance capital, access trumps ownership, cooperation supersedes competition, and “exchange value” in the capitalist marketplace is increasingly replaced by “sharable value” on the Collaborative Commons.
Rifkin concludes that while capitalism will be with us for the foreseeable future, albeit in an increasingly diminished role, it will not be the dominant economic paradigm by the second half of the 21st Century. We are, Rifkin says, entering a world beyond markets where we are learning how to live together in an increasingly interdependent global Collaborative Commons.
About the Author
JEREMY RIFKIN, one of the most popular social thinkers of our time, is the bestselling author of 19 books including The Third Industrial Revolution, The Empathic Civilization, The European Dream, and The End of Work. Rifkin is an advisor to the European Union and heads of state around the world. He is a senior lecturer at the Wharton Schools Executive Education Program at the University of Pennsylvania and the president of the Foundation on Economic Trends in Washington, DC.