Monday, May 12, 2008

Economics-101 in action Again

Just came across this one - from Chris Anderson's Blog:

"Every abundance creates a new scarcity"

For instance:

  • An abundance of information can create a scarcity of context
  • An abundance of choice can create a scarcity of advice
  • An abundance of content can create a scarcity of time
  • An abundance of people competing for your attention can create a scarcity of reputational ways to choose among them.
I found it pretty insightful. I am sometimes really amazed the way basic economics can shape and influence your thinking - from analyzing the markets for search engines to shaping competitive strategy and analyzing competitor moves. See my earlier post on Economic Complements and Substitutes too.

1 comment:

Humblybob said...

Well said. I was a media professional before I left to become a stock trader. I find markets is where God is found. Like you say about economics, that I say about the stock markets. It is amazing to see how little is actually within your control, yet you are provided the wisdom to decipher what is happening. Truly Gitaesque.