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About This Document: Online, you can literally create your own economy. By that, the author means you can build an ordered set of opportunities for prosperity and pleasure, analogous to a traditional economy but held in your head. There is no obvious monetary transaction, but you're using your limited resources to get a better deal -- the very essence of economics. The bright side is the "human capital dividend." The reallocation of consumer time into the "free sector" on the Web will liberate the efforts of many producers and intermediaries, just as the automobile's advent shifted workers out of making buggies for the horse. A second part of the human capital dividend comes from people's productivity as Web consumers. Someday there will be tools to measure these new benefits. Twitter's value will lie not in its eventual market cap but in the human connections it creates.

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Create Your Own Economy

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Create Your Own Economy

Create Your Own Economy

Tyler Cowen

Fast Company; Jul/Aug 2009; 137; Docstoc

pg. 37

Reproduced with permission of the copyright owner. Furth

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