2018-04-30 I have talked about how monetary capital goes away when you spend it, knowledge capital doesnât go away when you spend it, and SOC requires a knack for using it, but if you use it well, it increases.Money goes away when you spend it.
- When there is a demand D and a supply S, value is created by an intermediary M who knows both and causes them to combine.
- In the case of commodity trading, M corresponds to the market.
- In that case, the commodity is separated from the producer and distributed independently.
- However, knowledge, especially knowledge in the sense of solution capability rather than information, cannot be distributed separately from people.
- Similarly, for a variety of reasons, demand on the demand side can often not be distributed in isolation from the consumers
- Therefore, there is a type of transaction in the world in which neither a market in which âsuppliers display their products and consumers buy themâ nor a market in which âconsumers post jobs and suppliers apply for themâ can be used.
- Just as markets create value by creating lubrication for commodity transactions, so providing lubrication for that type of transaction is value creation.
- In this case, the intermediary M is the supplier in the form of matching value provision.
- If we design the system so that intangible capital is attracted to M in exchange for providing that value, positive feedback will turn around.
- What are the conditions and how to design them are the current concerns
- I think itâs a requirement that after the D and S transaction occurs, there should be an increase in Happiness for both parties.
- Because trust in intermediary M will decrease if the transaction does not lead to a positive outcome.
- Therefore, the act of introducing S to D, to anyone, lowers Dâs trust.
- On the other hand, if you introduce a not-so-good D to S, it lowers Sâs trust in you.
- So M needs to do its best to scrutinize screening and filter out the participants who are not good. Facebook(2018)
relevance - Expanded reproduction in social capital
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