Mayer-SchOnberger And‎ Thomas Ramge: Reinventing Capitalism In The Age Of Big Data

0
Mayer-SchOnberger And‎ Thomas Ramge: Reinventing Capitalism In The Age Of Big Data

Businesses are facing their most formidable challenge in decades: a shift from firms to data-rich markets which, in turn, will upend traditional, money-based ones. These transformations are the focus of Reinventing Capitalism in the Age of Big Data (Basic Books / Hachette, 2018) by Viktor Mayer-Schönberger and Thomas Ramge. The authors “connect the dots between the difficulties faced by traditional online markets; the error of the stock market’s trusted pricing mechanism; and the rise of markets rich with data.” They “argue that a reboot fueled by data will lead to a fundamental reconfiguration of our economy, one that will be arguably as momentous as the Industrial Revolution, reinventing capitalism as we know it.” That’s a bold claim, one not yet borne out but here and there showing so