Kudunomics

Ok, here’s a really interesting take on economics that I think I need to learn more about. An excerpt from Ethan Zuckerman’s blog about Samuel Bowle’s theory:

The big idea behind Bowles’s recent research is that some of the fundamental laws of economics – notably Adam Smith’s invisible hand, may not work in the “weightless economy – the economy that can’t be weighed, fenced, or conveniently contracted for.” Rather than being based on material wealth, knowledge-based economies are based on embodied and relational wealth. In these economies, individual-posession based property rights are difficult to enforce, and socially harmful to enforce.