Attention is a monetizable commodity online. But societies based on it will have a pre-industrial flavour
I was recently given the following poser: “The most important way in which the Internet and online social media are changing our world is (fill in the blank)." My standard answer is that it changes the balance of power between individuals and institutions. But this was a sophisticated audience of economists and students, gathered for the 20th anniversary of Moscow’s New Economic School. I needed new material.