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August 19, 2005

"In 2002, Professor Benkler published a seminal essay with the provocative title "Coase's Penguin, or Linux and the Nature of the Firm." In Coase's Penguin Professor Benkler states that for decades we have lived with two major ways in which individuals organize economic production: "as employees in firms, following the directions of managers, or as individuals in markets, following price signals." What we are now seeing, he writes, "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."

(Continued at Robin Good's Latest News.)


Originally posted by Irving Wladawsky-Berger from Robin Good's Latest News, remediated by yatta on Aug 19, 2005 at 04:02 PM