Reinventing Capitalism in the Age of Big Data

Viktor Mayer-Schonberger, Thomas Ramge

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English

Hodder & Stoughton
27 February 2018

Economics & Business; Macroeconomics; Business & management; Databases

Markets have long been acknowledged to be a superior mechanism for managing resources but until the advent of big data, they largely functioned better in theory than in practice. Now, as ideal markets are within reach because of vastly greater access to information, we are on the verge of a major disruption. As data becomes a more valuable asset than cash, the rules for surviving and thriving are changing.

REINVENTING CAPITALISM is a provocative look at how data is reinventing markets and, in so doing, is ushering in an era where the firm is no longer predominant. With richer and more comprehensive information about human wants and needs, an economy powered by data offers the possibility of increased abundance, equality, and resilience. The data-driven markets that will thrive in this environment are far better than firms at organising human endeavors, meaning that finance driven capitalism is being displaced by its more efficient, more sustainable, and more democratic disruptor: data capitalism.

By: Viktor Mayer-Schonberger, Thomas Ramge
Imprint: Hodder & Stoughton
Country of Publication: United Kingdom
Dimensions: Height: 235mm, Width: 156mm, Spine: 22mm
Weight: 376g
ISBN: 9781473656505
ISBN 10: 1473656508
Pages: 272
Publication Date: 27 February 2018
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

Viktor Mayer-Schonberger is Professor of Internet Governance and Regulation at Oxford University following a decade on the faculty of Harvard's Kennedy School. He is one of the most respected authorities on what is happening in the big data arena. His book, Delete: The Virtue of Forgetting in the Digital Age is considered a seminal work on the ever-presence of data.

Reviews for Reinventing Capitalism in the Age of Big Data

Fascinating * Observer * An excellent primer * Financial Times * Teems with great insights on the new ways of harnessing information, and offers a convincing vision of the future. It is essential reading for anyone who uses - or is affected by - big data * Jeff Jonas, IBM Fellow & Chief Scientist, IBM Entity Analytics * An optimistic and practical look at the big data revolution - just the thing to get your head around the big changes already underway and the bigger changes to come * Cory Doctorow, Boing Boing * Praise for Big Data: Anyone interested in the future of business should read this fascinating book . . . Reinventing Capitalism makes a compelling case that it will change the nature of the market itself. With brilliant insights, it explains how the shift from simple price signalling to data-rich preference matching will determine the winners and losers of the 21st century economy, and thoughtfully outlines steps to curb the excesses of this new environment * Kevin Werbach, The Wharton School, University of Pennsylvania * This landmark book . . . should challenge and inspire every corporate strategist and public policy maker * Philip Evans, Senior Advisor, The Boston Consulting Group * Ideas on how best to organise a data economy are far and few between. This book offers plenty of food for thought * Ludwig Siegele, Technology Editor, The Economist *