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This is misleading: The economy of the last century was primarily based on natural resources, industrial machines and manual labor. Many of these resources wer
by Goladus 14y ago
This is misleading:
The economy of the last century was primarily based on natural resources, industrial machines and manual labor. Many of these resources were zero-sum and controlled by companies. If someone else had an oil field, then you did not. There were only so many oil fields, and only so much wealth could be created from them.
Today’s economy is very different. It is based primarily on knowledge and ideas — resources that are renewable and available to everyone. Unlike oil fields, someone else knowing something doesn’t prevent you from knowing it, too. In fact, the more people who know something, the better educated and trained we all are, the more productive we become, and the better off everyone in our nation can be.
The economy is still based on natural resources. Oil and electricity generation is still constrained and the economy depends on it. Zuckerberg should know this. The knowledge economy exists only in the context of the resource economy.