Group items tagged

business

government

education

research

The old economic paradigm was a service economy built on the digital communications revolution that began in the early 1970′s.

financial capital has decoupled from productive capital

financial meltdown

major societal institutions have stalled

the funding models

no longer work properly

The new model is the Open Collaboration Paradigm

we will see a radical departure from old institutional models.

social capital is increasingly recognized

generating wealth for society

This will be a profoundly social economy, built on unprecedented capabilities to self-organize people and resources in the crowd.

Social media

connect ideas, people, and institutions

blur the inside/outside distinctions

Network connections

radical transparency will be the new norm

Another profound shift will occur in the realm of ownership

No longer

viable

to horde intellectual property

 Collaborative consumption will arise as a more robust business paradigm,

risk is distributed

implications for business

 Those who can leverage the wisdom of crowds for market research, product development, and efficient resource allocation will be more adept and agile in the face of rapid change.

Those who build walls around themselves will fail to tap into the flow of knowledge and resources running rampant in the crowd

governments will have to become more transparent and responsive to their citizens

information becomes more immersive and dynamic

Research has already begun to use open collaboration that goes beyond the halls of academia.

collaborative approach to research will become the norm,

The era of “user generated content” and “prosumption” — where consumers of goods and services co-create what they will consume — is now a decade along in its evolution.  We will increasingly see collaborative design and production of consumables across society.

In the education arena, we will see more curricula as shareware and an increased emphasis on multi-perspective teamwork as the necessary skills for engaging in collaborative projects.

Expert/amateur boundaries have already blurred to the point where individuals can acquire graduate-level knowledge through self-directed learning on the internet.

distance learning

 Lifetime learning

active pedagogy

So get ready for the new economic paradigm.