"Life in a transition economy is uncertain and unpredictable." So what is the problem in the business model that assumes that people will pay for content, say for the ability to read blogs? The problem is that there is no scarcity. There are too many blogs, too many newspapers, too many sources of information, too much music etc. They're all fighting for our attention but we just don't have the time to consume them all, even those that are free. In fact, the problem we're facing is the opposite: we would be willing to pay for something that would filter all the available information and present only the stuff that we're interested in. [Krzysztof Kowalczyk]
There is a scarcity of time. This is why search engings and portals have a place as facilitators in the Knowledge economy. We all have a limited amount of Time and Money and have to choose between many many options in ways that will maximize our individual household utility.
If I can in my blog reduce your search time that adds value. Money is just one of many forms of stored resources that can be liberated or converted to solve problem. Fincial Capital, Physical Capital, Human Capital, and at the root of the web log and knowledge economy Social Capital. More in a working paper currenlty titled " Again I point to the wonderful work of Sarah Busse
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