informationliberation
The news you're not supposed to know...




Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
(more)
Article posted Jul 09 2011, 5:10 AM Category: Science/Technology Source: YouTube Print

Would You Give Up The Internet For 1 Million Dollars?



The number of Internet users worldwide has now surpassed two billion and so many of us have integrated the web into our lives so much that it's hard to quantify how much it's worth to us. But why not give it a shot? Think about it.

How much would someone have to pay you to give up the Internet for the rest of your life?

Would a million dollars be enough? Twenty million? How about a billion dollars?

"When I ask my students this question, they say you couldn't pay me enough," says Professor Michael Cox, director of the O'Neil Center for Global Markets and Freedom at Southern Methodist University's Cox School of Business.

The free market, says Cox, creates a huge gap between what consumers would be willing to pay for Internet access and how much it actually costs.

It's cheap to get online and getting cheaper all the time. We see the same pattern with many other products. Take the cell phone. When it first arrived in the 1980s, the cell phone had no apps, no music, and no Internet access--it was pretty much a brick with buttons. Yet that brick cost about $4,000, and that's why only the super rich could afford them (think Gordon Gekko in Wall Street). Today, it takes only about 40 bucks to walk home with an iPhone.

Turns out capitalism has its own built in welfare transfer system.

"When a new product comes out we all get in line for it," says Cox. "The wealthiest people are in the front of the line and they pay the highest price for the worst version of a product." Real life Gordon Gekkos buy the products when they're expensive, and that lets the rest of us enjoy the cheaper, better versions.

Even in a lousy economy we all enjoy things, from smart phones to aspirin to air conditioning, that weren't available to the world's wealthiest people just a short while ago. And if we have access to something like the Internet, something that's worth so much to us, we just might be richer than we realize.

CREDITS:

Presented by The Fund for American Studies

Written and produced by Ted Balaker, hosted by Michelle Fields, music by Jason Shaw @audionautix.com http://audionautix.com/.

Special thanks to Mr. Robert Hoffman.





Latest Science/Technology
- Bad News: Supreme Court Refuses to Review Oracle v. Google API Copyright Decision
- Lexus Says They've Invented World's First Hoverboard
- The Migration of Guns from Physical to Digital
- The Ingenious Design of the Aluminum Beverage Can
- Florida Judge: IP-Address Doesn't Identify a Movie Pirate
- BMW Working to Develop Crash-Proof Car, Sensors Used to Avoid Accidents
- Security Audit Of TrueCrypt Doesn't Find Any Backdoors -- But What Will Happen To TrueCrypt?
- Cleveland Police Union Thug Cop-splains Blue Privilege









Comments Add Comment Page 1 of 1
Anonymous

Posted: Jul 10 2011, 9:06 AM

Link
94253 what is this, a capitalist new world order propaganda. This internal flawed logic is what corporations use to steal from us, manipulate us, steer us in their direction...
We would be much better of in a world without corporations and money...zeitgeist world. and whoever thinks zeitgeist is communism, is an idiot.


Add Comment
Name
Comment

* No HTML


Verification *
Please Enter the Verification Code Seen Below
 


PLEASE NOTE
Please see our About Page, our Disclaimer, and our Comments Policy.


FAIR USE NOTICE
This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy



Advanced Search
Username:

Password:

Remember Me
Forgot Password?
Register

Greeks Say FU to EU Bailout - 07/05Cop Tells Woman There's "No Excuse" For Parking The Wrong Way, Says It's Against The Law To Film Him - 07/03NYPD Cops Terrified of New Bills that Will Stop them from Choking and Illegally Searching People - 07/03War Veteran with PTSD Faces Life in Prison for Pot, His Wife Calls for Help - 07/02Why Not an 'Independence From the State' Day? - 07/03Cop Kills Man with Patrol Car While Speeding & Looking at Laptop, Flexes Blue Privilege No Charges - 07/03TSA Asks America To LOL At Traveler Who Had $75,000 Taken From Him By Federal Agents - 07/02Chicago Institutes New "Amusement Tax" On Netflix, Streaming Services - 07/02

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up
(more)

 
Top