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I suggest that we are seeing is the broad and deep emergence of a new, third mode of production in the digitally networked environment. I call this mode "commons-based peer-production," to distinguish it from the property- and contract-based models of firms and markets. Its central characteristic is that groups of individuals successfully collaborate on large-scale projects following a diverse cluster of motivational drives and social signals, rather than either market prices or managerial commands.

it’s impossible to overstate the importance of peer production to the modern digital world.

What sounds on the face of it like the most utopian of collectivist fantasies — millions of people sharing their ideas with no ownership claims — turns out to have made possible the communications infrastructure of our age.

Peer networks laid the foundation for the scientific revolution during the Enlightenment, via the formal and informal societies and coffeehouse gatherings where new research was shared. The digital revolution has made it clear that peer networks can work wonders in the modern age.