Post-Holiday Crash Time
Possibly my most favourite time of Christmas is not the opening of presents, or the big dinners, or the family coming to visit. Those are all very nice; but I think that December 30th is my favourite day of the holiday season. For it's on days like today - after all the visits are done, all of the food is eaten, and all of the gifts are openend - that there's nothing left to do but sit quietly together and enjoy whatever novelty Christmas has brought this year. The kids are busy planning elaborate underwater castles for their new WebKinz (a real-world stuffed toy with a virtual-world life), the cats are making strained meowling noises at the squirrels running through the snow outside our windows, my wife is sipping tea and thumbing through the mail.
And me? I've been on the couch all morning reading books on my new Sony electronic book reader (my wife gives really good gifts). Say what you will about it -- I'm convinced that these little gadgets are going to revolutionize the book publishing industry as much as the iPod has revolutionized the music publishing industry. Creating a non-physical format for ANY product opens up entirely new markets and interesting economic effects. With the non-physical format, authors no longer have to compete with each other for limited shelf space. There IS no shelf!
For example, the book reader came with 100 free books of my choice from Sony's "Classics" collection. These are books that are in the public domain, but which would still take up printing and shipping costs as well as valuable shelf space if delivered in physical format. Consequently, they might not be easy to find in the local bookstore or library. And any one of them, in physical format, would cost me about $10 each and take weeks, if not months to deliver. In electronic format, however, I'm off reading your selection in seconds! Yes, it's not the same as reading a physical book. But it's a close enough experience that the benefits far outweigh the negatives. Plus, the reader can hold literally thousands of books in its memory card!
I've made the first two free books good ones: Adam Smith's "The Wealth of Nations" and Darwin's, "On the Origin of Species". Both are marvelous reads (if you can overcome the long-winded nature of writers centuries-past), and they both do a great job of explaining a very important phenomenon: the emergence of apparent order and complex structure from a system composed of unorganized interacting basic elements. Understanding such emergent behavior is the key to everything.
So with some apologies to readers who were wanting me to blog about urbanism, I'm going to take a little detour for a while. I'm going to spend the upcoming posts writing about what I think are the new emergent behaviors in economics. It may take some time, but when I'm through, I think I should be able to describe my vision of the ideal city in terms of powerful economic forces, rather than in terms of wishful neo-hippy karma.
Until next time!
-- Geoff