The economy was founded like basic transactions pool in the B.C. Transactions have too much limited and markets occupy so specific places. Even the common unit was still a problem in this era. We (as economics students or volunteers) heard too many concepts about this period; barter economy, agricultural revolution, closed economies, trade roads, trade leagues, etc. Even though we have a developed economic system, we are still arguing these questions; “what is the value of money, which goods or metas represent value or money?”. This article represents a new aim and publications list. Today we are arguing “Knowledge” which is the most valuable meta in today’s economy.
After Industry 3.0 and developed high technologies, we created a new phenomenon which we say “Data”. Data is the most powerful thing in Industry 3.0 and today and it represents power. Economics thinkers argue a new topic “Where is the location of the knowledge”. Because it is like a shadow; sometimes joins the production process and behaves like a “Production Factor”, sometimes can be a service or goods owned by own. We have a huge gun and fire, but we don’t know how to use it because we don’t know about it (it’s becoming a dilemma indeed). In a past interview, Prof. Daron Acemoğlu brought a bright light to my mind on a Sunday by saying a wonderful sentence; “Yes, it’s great to have information and access it easily, but it also puts a burden on our shoulders. We can sometimes overlook it.”. This sentence sums up the situation I am trying to explain, a concept that can poison us when appropriate but is indispensable for our development.
I think our relationship with information is like the Tony Stark-Ark Reactor relationship, it poisons us, but if we are left without it, we going to die (!)
At the Big Data point, many social media platforms and large companies have started to see data as a means of exchange and a Store of value (Since it meets two of the functions of money, we are very close to the fact that information functions the same as money). So much so that they carry out trade or exchanges between them by exchanging data. I don’t know if Google is listening to you (!), but I know that Google makes a profit by doing customer analysis and market optimization using the data you have created with your consent. Does Google do all this service for free, or have you already paid the price for the data you share with your consent?
At this point, I come to you with a wonderful offer, since knowledge becomes such a powerful phenomenon and wealth (it can even replace money when appropriate), then let me give you free money. My dear readers, I promise to enrich you by showering you with information about economics. Come with me and find out! (At the same time, since I will have to tell you some things, you will push me to become rich, that is, to learn. I am grateful to you!).
Our journey is just beginning, remember.
“Knowledge represents value for today and the whole world for tomorrow.”
