‘Free tech’ economy creates harmful monopolies and alters our self-expression
When Adam Smith, champion of capitalism, wrote The Wealth of Nations in 1776, he could not have foreseen that someday many of the world’s biggest companies would be giving away their services for free. But that’s exactly what’s happening in today’s digital economy. Costs are rapidly approaching zero across a wide range of services as we drift further from a society focused on money and traditional economics to a digital-heavy culture that demands free apps and 24/7 access to information. In lieu of dollars or euros, companies are bargaining for people’s attention — and data. A new economic paradigm This…
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