Business Internet of Things

Will the Internet of Things Undermine Capitalism?

(Image via Shutterstock)

(Image via Shutterstock)

Jeremy Rifkin writes in the New York Times about the future of the collaborative, sharing, free economy, making some original new points. Most notably, he argues that because the Internet of Things will radically accelerate the growth of sharing and efficiency, it will implicitly lead to a reduction in capitalism itself and a further rise in the importance of non-profit institutions. The rise of “free goods,” tackled directly at Techonomy 2012 by MIT economist Erik Brynolffson, is in Rifkin’s opinion now going to extend well beyond the digital and virtual (where things like Gmail, this website, and innumerable other free opportunities are available). Rifkin argues that capitalism, while it has a future, will become a “niche” part of the economy. Philanthropy and NGOs may become much more central to all of our notions of social leadership and economic health.

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One Response to “Will the Internet of Things Undermine Capitalism?”

  1. Vince DeVito says:

    It’s no surprise that someone at the NY Times is cheer leading for the end of capitalism…and totally misunderstanding capitalism, human nature and how the world really works.

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