Venkatesh Rao's tour-de-force blog-post, "A Brief History of the Corporation: 1600 to 2100," is an attempt to synthesize several accounts of economic trends and the institutions that fuel and benefit from them, primarily corporations. Beginning with the age of mercantilism and the East India Company's many bubbles and busts (not to mention ruthless conquests and brutal consolidations); Rao moves onto the "Schumpeterian" era where growth was driven by innovation and the "colonization of time" in the form of "labor-saving" devices that let corporations capture more value from their workers. Rao concludes with a brief section on the current era, the "Coasean" period in which individuals, coordinating among each other, are at center stage -- basically, maker culture. Part history lesson, part economic speculation, Rao's essay is provocative, a little esoteric, well-written and challenging.
Take an average housewife, the target of much time mining early in the 20th century. It was clear where her attention was directed. Laundry, cooking, walking to the well for water, cleaning, were all obvious attention sinks. Washing machines, kitchen appliances, plumbing and vacuum cleaners helped free up a lot of that attention, which was then immediately directed (as corporate-captive attention) to magazines and television.
But as you find and capture most of the wild attention, new pockets of attention become harder to find. Worse, you now have to cannibalize your own previous uses of captive attention. Time for TV must be stolen from magazines and newspapers. Time for specialized entertainment must be stolen from time devoted to generalized entertainment.
Sure, there is an equivalent to the Sun in the picture. Just ask anyone who has tried mindfulness meditation, and you'll understand why the limits to attention (and therefore the value of time) are far further out than we think.
The point isn't that we are running out of attention. We are running out of the equivalent of oil: high-energy-concentration pockets of easily mined fuel.
The result is a spectacular kind of bubble-and-bust.
A Brief History of the Corporation: 1600 to 2100
(Image: Red Wing Shoes Factory Tour, a Creative Commons Attribution (2.0) image from 94693506@N00's photostream)
Francis Gurry, the fair-use hating, web-hating, North Korea embargo-breaking, witch-hunting, blackmailing head of the UN’s World Intellectual Property Organisation (WIPO) has a new pick to run copyright at the UN agency: Sylvie Forbin, a lobbyist for for French entertainment giant Vivendi.
CETA — the “Comprehensive Economic and Trade Agreement” is a secretly negotiated deal between Canada and the EU, mirroring many of the most controversial provisions in notorious deals like ACTA, TPP, and TTIP — including the “corporate sovereignty” clauses that permit multinational corporations to sue governments in closed courts, and force them to repeal environmental, […]
Nearly 2 weeks ago, 17 million Britons (mostly poor) voted to leave the EU in what amounted to a plebiscite on austerity, finance capitalism, and the widening gap between the increasingly wealthy and the increasingly poor. In response, the Conservative government says it will tempt corporations to come to the UK by making the rich […]
Those of us who love music wish we could listen to it 24/7. But it’s impossible when we’re trying to converse with our friends, or when are swimming in the local pool.That is, until now. The KOAR Bone Conduction Bluetooth Headset, now 48% off, has changed the audio game.Made with lightweight titanium memory metal, this headset boasts patented bone conduction technology to transport sound […]
It’s one thing to enjoy dinner at home and a nice glass of Cabernet Sauvignon with your best friend, Netflix, but it’s another thing entirely to make that meal from scratch and get that wine delivered right to your doorstep.But what if we told you there’s a way to make this possible? To keep your social life, […]
Having to pack and drag your stuff through security can put quite the damper on your vacation plans. Thankfully, we’ve got your back with one way to make traveling more painless: the Jumper Overnighter Travel Bag.This compact bag is so lightweight that you can effortlessly carry it, and fit it into any overhead compartment. But just […]