Imagine how different the world would be if value created and value captured were more closely correlated
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Replying to @ATabarrok
Devon Retweeted michael_nielsen
Correlated, not all
@michael_nielsen offers a good example: open license publishing. Far more people can read the book, which corresponds to more value in the world, but the author captures *less* than they would if were to publish restrictivelyhttps://twitter.com/michael_nielsen/status/1049113591155122176 …Devon added,
michael_nielsen @michael_nielsenThis bugs me for open foo. Eg, for books, you can create 100x more value by making your book available under an open license, but it's far easier to capture value if you publish restrictively. The invisible hand is also a rather inept hand in this case. https://twitter.com/devonzuegel/status/1048027088857382912 …Show this thread2 replies 0 retweets 5 likes -
Devon Retweeted michael_nielsen
Another great example from
@michael_nielsen:https://twitter.com/michael_nielsen/status/1049117296919101441 …Devon added,
michael_nielsen @michael_nielsenPerhaps most strikingly true for free and open protocols. The web, TCP/IP, SMTP, SSL (etc) are among humanity's greatest inventions of the past century. Their creators (mostly) got recognition and modest salaries. But they enabled trillions of dollars in value creation.Show this thread0 replies 0 retweets 2 likes -
Replying to @ATabarrok @devonzuegel
I'm not sure I understand either part of this - can you say at a little more length what you mean?
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What distinguishes the cases/markets where we’re better off with tighter vs. looser correlation (between value created and value captured)?
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this makes a lot of sense, thanks
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