Tracy Sherlock: Rifkin: "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."

Source: „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. A mature Communication Internet is converging with a nascent Energy Internet and Logistics Internet to create a new technology platform that connects everything and everyone. 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.”
 


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