Cover Image: Reinventing Capitalism in the Age of Big Data

Reinventing Capitalism in the Age of Big Data

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Member Reviews

I am personally most intrigued by REINVENTING CAPITALISM IN THE AGE OF BIG DATA by Viktor Mayer-Schonberger. I have had several students this year who read his earlier work on Big Data and others who are writing Junior Themes that deal with neo-liberalism and the economy. No doubt, they would all be interested in the predictions that Oxford professor Mayer-Schonberger and his co-author, Thomas Ramge of the Economist, make regarding the potential scenario where cash, banks, and big companies become obsolete. As noted in its description, this book highlights "small groups and individual actors who make markets instead of making things: think Uber instead of Ford, or Airbnb instead of Hyatt." They argue that the impact on the labor market will be as disruptive as the industrial revolution, resulting in an on-going need for significant re-training of workers, increased dependence on artificial intelligence, and exploration of policies such as universal basic income. Thought-provoking and a bit scary.

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