Digital News readers are cheapies
14 May 2015 Leave a comment
in economics of media and culture, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, digital media, entrepreneurial alertness, legacy media, newspapers
Creative destruction in magazines
13 May 2015 Leave a comment
in economic history, economics of media and culture, entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, entrepreneurial alertness, Internet, legacy media, magazines, market selection
Endurance obviously has evolutionary survival value
12 May 2015 Leave a comment
in health economics, survivor principle Tags: evolution, The Great Escape
The robots are coming, the robots are coming – been there, done that in Japan
12 May 2015 1 Comment
in applied price theory, development economics, economic history, entrepreneurship, growth miracles, industrial organisation, labour economics, labour supply, survivor principle, unemployment Tags: creative destruction, entrepreneurial alertness, innovation, Japan, technological unemployment
When I was a kid, I used to like reading the Encyclopaedia Britannica. I read them from cover to cover.
One of the things I recalled from the Encyclopaedia Britannica was that in 1961 nearly half of the Japanese workforce worked in the agricultural sector.
I notice that anomaly when I was reading the Encyclopaedia Britannica entry on Japan in the 1970s. Japan had undergoing an economic transformation since my Encyclopaedia Britannica’s were written in 1961. It was very much out of date.
Australian manufacturing was being outcompeted in every direction from automobiles to clothing and footwear by the Japanese manufacturing sector back when I was a teenager.
The Japanese economic miracle absorbed the Japanese agricultural labour force without anybody having time to shout "the robots are coming, the robots are coming".
There is a lesson in there somewhere for the current breathless journalism, with far too many academic fellow travellers about "the robots are coming, the robots are coming".
When I was a student at graduate school in Japan, I visited a Japanese factory in 1996 that was completely automated bar one function. Only once did a human hand actually touch the electrical goods they were making. Naturally, at the Q&A session at the end of our visit, I asked when was his job going to be automated.
The Ten Pillars of Economic Wisdom
10 May 2015 Leave a comment
in applied price theory, applied welfare economics, Austrian economics, comparative institutional analysis, constitutional political economy, development economics, economic history, economics of education, economics of information, economics of media and culture, economics of regulation, energy economics, entrepreneurship, financial economics, health economics, history of economic thought, industrial organisation, survivor principle Tags: David Anderson, evidence-based policy, offsetting behaviour, pretence to knowledge, The fatal conceit, unintended consequences
via The Ten Pillars of Economic Wisdom, David Henderson | EconLog | Library of Economics and Liberty.
Creative destruction in media consumption
08 May 2015 Leave a comment
#Dailychart: In 2015 consumers will spend more time online than watching TV econ.st/1EU7g5Q http://t.co/pqKNum7CU5—
The Economist (@EconBizFin) May 05, 2015
Creative destruction in US Brewery Count since 1874
07 May 2015 Leave a comment
in industrial organisation, survivor principle Tags: beer, creative destruction
The prizes for guessing that a lot of US breweries closed during the prohibition era. Numbers were falling rapidly before prohibition because of the ready availability of reliable pure drinking water and electricity.
CHART: US Brewery Count 1874 to 2014 http://t.co/B4nlJTRA18—
Mark J. Perry (@Mark_J_Perry) April 12, 2015
Up until the early 20th century, people did not drink beer that wasn’t bought from an area nearby because of the difficulties of preserving beer through refrigeration. Once electricity was readily available to refrigerate beer, the economies of scale kicked in.
Initially, beer was for the masses and there was may be one or two beers on tap at any part in Australia or New Zealand. Very few bottled beers were available behind the bar.
CHART: Americans sure love macro-brewed swill. Top 4 selling US beers: Bud Light, Coors Light, Bud, Miller Lite. http://t.co/W1Sh9LvPYh—
Mark J. Perry (@Mark_J_Perry) March 31, 2015
In recent decades, there has been the rise of boutique beers as incomes have risen. A number of tasty boutique beers emerged emerged on the market. I’d like a particular Belgian beer because it has cinnamon in it.
Creative destruction in PCs – how powerful was the first PC in 1980?
06 May 2015 Leave a comment
in economics of media and culture, entrepreneurship, industrial organisation, survivor principle, technological progress Tags: creative destruction, entrepreneurial alertness, PCs
"The march of technology"-Abrash
1980 4MHz computer: $6000
2015 TitanX: $1000
30 years & 1,000,000,000X more powerful http://t.co/zTexe8d259—
Darshan Shankar (@DShankar) March 26, 2015
Abrash demonstrating how quickly tech has evolved over time #f8 #VR http://t.co/TymEpfyHwv—
Mashable (@mashable) March 26, 2015
Twitter is growing faster than Facebook, relatively speaking
05 May 2015 Leave a comment
in economics of media and culture, entrepreneurship, financial economics, industrial organisation, survivor principle Tags: creative destruction, Facebook, Twitter
The robots are coming, the robots are coming – creative destruction in time telling
04 May 2015 Leave a comment
in entrepreneurship, industrial organisation, survivor principle Tags: creative destruction, entrepreneurial alertness, technological unemployment
Before alarm clocks were affordable, 'knocker-ups' were used to wake people early in the morning. UK, around 1900 http://t.co/wD24qR85Jg—
History Pics (@HistoryPixs) January 20, 2014
Creative destruction in advertising revenue
04 May 2015 Leave a comment
in economics of information, economics of media and culture, environmental economics, industrial organisation, survivor principle Tags: creative destruction, economics of advertising, entrepreneurial alertness, Google, legacy media, markets selection, The meaning of competition
The robots are coming, the robots are coming – but Japanese ATMs work only 9-5
02 May 2015 Leave a comment
in economics of media and culture, industrial organisation, survivor principle
…the number of people using the ATMs after normal business hours (particularly in more rural areas) is not enough to offset the cost of running the ATMs. Banks are businesses, too, after all, so they’re looking to make a profit. If the ATMs aren’t bringing in any money – or, are in fact losing money through the expense of keeping them open for longer hours – the banks would, naturally, shut them down to avoid that extra expense.
via The Japanese Way: ATMs with 9-5 jobs | Wide Island View.
Creative destruction in the S&P500 index
23 Apr 2015 Leave a comment
in economics of media and culture, industrial organisation, survivor principle Tags: creative destruction
I didn’t go to any of the 25 biggest box office flops – did you?
23 Apr 2015 Leave a comment
in entrepreneurship, industrial organisation, movies, survivor principle Tags: entrepreneurial alertness, Hollywood economics, profit and loss, The meaning of competition
John Carter recently beat Waterworld as the biggest loser in the domestic box office: randalolson.com/2014/12/29/the… #dataviz http://t.co/cYrW0fwzDH—
Randy Olson (@randal_olson) December 30, 2014
I read a Steve Jobs biography 15 years ago when you couldn’t find him on this chart
21 Apr 2015 Leave a comment
in economic history, entrepreneurship, financial economics, industrial organisation, survivor principle Tags: Apple, creative destruction, entrepreneurial alertness, Steve Jobs
People really forget how awesomely powerful IBM was in the 1980s: @evankirstel http://t.co/TkpuU5sAXg—
Marc Andreessen (@pmarca) April 04, 2015
Utopia, you are standing in it! 
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