Media in Transition

The key factor in the digital media age is the allocation of attention. In a recent blog post on ReadWrite Web - “The Attention Economy: An Overview”, author Alex Iskold provides an interesting framework we’d like to discuss. In a reverse market, where users determine the design of products and services […]

In our highly specialized economy the main value-added activity is actually the coordination of resources, such as brainpower, energy, raw and processed materials. In Economics we call the costs of organization transaction costs. Nobel laureate Douglas North (Economic History) managed to explain the path humanity took in world history according to lowering transaction costs (institutions) […]