Brave New World -- hosted by Vasant Dhar cover image

Ep 29: Albert Wenger on the World After Capital

Brave New World -- hosted by Vasant Dhar

NOTE

Markets Cannot allocate attention in the socially optimal way

There's nobody who is, you know, offering purpose, and other people are demanding purpose. It's something that you either elocate attention to or you don't. But there's no price mechanism that's going to elocate your attention towards. So where do we have a market for attention? While it's the market for advertising, that's the marketfor attention, right? Some people will have attention companies like facebook and twitter and others, newspapers,. And some people want attention because theyhve products to sell, and so they pay for your attention. Ah, and that's called advertising.

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