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The FREE Economy

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by

Mark Congdon

on 17 April 2010

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Transcript of The FREE Economy

The FREE Economy What does "free" mean? In the literal sense... Free could mean anything you receive that you don't spend money on BUT There is also the economic concept That every decision involves tradeoffs This is where our discussion of a free internet economy becomes interesting. First, let's take a look at some "free" websites: So what do these sites have in common? Well, first of all... The user doesn't have to pay money for the service... So where's the economic tradeoff?? Let's take a closer look... Google makes its money through advertising... While Facebook and Wikipedia... Make the users upload all their content So whether its having to deal with annoying ads Or putting in the site's manual labor... The user is still sacrificing something for these services So what about other services, such as online news? The Wall Street Journal has already started... to charge users for some of its content Check out this YouTube video the SHAME See?? I told you So the QUESTION is... Will users be willing to start sacrificing actual money Instead of other more intangible sacrifices? Only TIME will tell... But one thing is for SURE Nothing is FREE without some kind of TRADEOFF Here, check them out for yourselves... http://google.com http://facebook.com http://wikipedia.org
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