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




An Introduction to Austrian Economics: Understand Economics, Understand Everything
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
- A Cop's "Worst Nightmare": Accountability
- Changing the Climate Change Narrative
- Marc Morano debates climate change on CCTV
- CUPID Drone To 'Shock The World' With 80,000 Volt Stun Gun
- Female Takes Testosterone, Starts Objectifying Women, Thinking Pornographically, & Becomes Interested In Science
- The Problem Isn't "Patent Trolls." The Problem Is Patents.
- Warmist: 'Every Weather Event in the Modern World is Attributable to Climate Change'
- Hollywood's Villain: Kim Dotcom









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

Mission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement' - 10/23Chicago Cop Who Assaulted 89-Yr-Old For Requesting He Stop Cursing Gets 3 Years - 10/23The Compassion Of the State: Town Sells Mom's Home At Auction Over Unpaid $95 Tax Bill She Was Never Notified About - 10/23Doctor Assaulted by Police at Dying Son's Birthday, Tasered so Many Times He Had a Heart Attack - 10/23Either Praise the Police, or Shut Up - 10/22Call the Suicide Prevention Hotline -- Get Killed by a SWAT Team - 10/23EFF Guide: Know Your Rights When Dealing With Police - 10/22SWAT Officers Wrongfully Detain This Man For Filming in Public, Then it Gets Really Infuratiating - 10/22

Rialto, CA Police Made to Wear Cameras, Use of Force Drops by Over Two-ThirdsCop Who Karate Chopped NY Judge In Throat Gets Off Scot-FreeFlorida Cop Smashes Compliant Woman's Face Into Car -- "Maybe Now You Can Understand Simple Instructions"VIDEO: Lapel Cam Reveals A Day In The Life Of A U.S. Police Officer (Tasing, Beating, Breaking & Entering, Stomping On Heads... and Laughing About It)Caught On Tape: Officer Sucker Punches Inmate In Face, Files Report Claiming 'Self Defense'Insult Person On Twitter, Go To JailSWAT Team Brings TV Crew To Film Raid Against Threatening Internet Critic -- Raids Innocent Grandma InsteadCop Karate Chops NY Judge In The Throat
(more)

 
Top