"The kids at the record company are very enthusiastic, and they have a lot of friends they have made, and they all want to have an interview, and the only problem is they’re asking the same things people asked me a long, long time ago, because that’s what they do when they’re starting—you ask questions you already know the answer to. I don’t want to disappoint them, but you can’t disappoint unless you have an appointment. They don’t know I only like to talk to people who have something to talk about other than me. Like everybody in New York, they know everything. How can you tell them anything?” ❧
— Gil Scott-Heron
This is a key point. Social media and the way it (and its black box algorithms) amplifies almost anything for the benefit of clicks towards advertising is one of its most toxic features. Too often the extreme voice draws the most attention instead of being moderated down by more civil and moderate society.
I can’t help but see this definition and think it needs to be applied to economics immediately. In particular I can think of a few quick examples of economic anomie which are artificially covering up a free market and causing issues within individual communities.
Here publishers are marketing to professors who assign particular textbooks and subverting students which are the actual market and consumers of those textbooks. This causes an inflated market and has allowed textbook prices to spiral out of control.
The American Health Care Market
In this example, the health care providers (doctors, hospitals, etc.) have been segmented away from their consumers (patients) by intermediary insurance companies which are driving the market to their own good rather than a free-er set of smaller (and importantly local) markets that would be composed of just the sellers and the buyers. As a result, the consumer of health care has no ability to put a particular price on what they’re receiving (and typically they rarely ever ask, even more so when they have insurance). This type of economic anomie is causing terrific havoc within the area.
(Aside: while the majority of health care markets is very small in size (by distance), I will submit that the advent of medical tourism does a bit to widen potential markets, but this segment of the market is tiny and very privileged in comparison.)
In a non-economic setting it also seems to be highly applicable to social media silos like Facebook, Twitter, et al as they break social norms. I’ll have to circle back to write a longer essay about this with regard to the IndieWeb movement.
Is this what America is experiencing in the midst of Donald J. Trump’s new Republican party?
I’m left wondering if there is a potential link to Jonah Goldberg having used the word “Suicide” specifically in the title of his recent book? Neither Émile Durkheim nor anomie appear within the text however. The link seems more than fitting.
Similar to doubletalk, technobabble, and other varieties of speech.
This may be my favorite line of the entire code of conduct! I’m doing my best to resist….
This is a great short description from a WordPress developer perspective of what the Post Kinds Plugin does
Some good general advice…
There’s a kernel here of something about the value of links (social, business, etc.) as put forward by Cesar Hidalgo in Why Information Grows. Where is the real value? How can it best be extracted? Built up? Having a more direct means of valuing these otherwise seeming intangibles will be important in the future.
Incidentally 1% is the response rate necessary to make spam email and fax financially viable. Coincidence?
Do businesses that rely on a low response rate of 1-2% and succeed have something in common? Could they all be considered predatory?