This entry was posted on Saturday, October 31st, 2009 at 5:00 am and is filed under Advertising Factor, Age Factors, Attention Factors, Business Factors, Change Factors, Communications Factors, Disruptive Factors, Economic Factors, Industry factors, Influence Factors, Knowledge Factors, Market Factors, Media Factors, Relationship Capital, Relationship Economy, Rules of Engagement, Strategic Factors, Systemic Factors, jay deragon, social commerce. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
10 31st, 2009
- What Would Tree Huggers Say? HELP
- Is Social Media A Bet?
- Are You Generating Conversational Currency?
- Do You Waste People’s Time?
- An Economy Based On “Interest”?
- Social Media Transformation Cycles
- What Is The Holy Grail Of Advertising?
- Do We Practice What We Preach?
- Guilty Of Stinking Thinking?
- The Currency Of Social Media
- Communication Transforms Everything
- Building Our Own Economy
- Building the Social Economy
- Social Currency 101
- The Social Isolation Funnel
- Intellectual Property In Bloggerville
- What Is The Market’s Intention?
- The Debate: Free Vs. Paid Content
- 2010: Get A Life
- Servant Leadership: Ten Characteristics
- Bernie Madoff on Steroids?
- Betting Against The Dollar?
- Using Social Currency To Fight Terrorism
- Are They Capitalists Or Socialists?
The following summary from Hannah Del Porto does a great job in identifying the State of the Art in Building The Social Economy. Such “Thought Infrastructure” is essential to what will evolve into the next economic paradigm. For years, we have specified an Innovation Economy Built on Social Media platform. The thesis is published Here.
The key, we believe, is for the Social Financial System to emulate the critical components of the Monetary Financial Systems that support capitalization. Hence, “Social Capitalism” will emerge as a replacement for both Socialism and Capitalism. We are deeply excited in observing this integration of knowledge assets
Thanks Hannah!!!
Personal Democracy Forum Session: Building The Social Economy
Posted by: Hannah Del Porto
Personal Democracy Forum Session: Building The Social Economy: Craigbucks, Newmarks, and Making Whuffie
Panelists: Tara Hunt and Doughlas Rushkoff
Who are they?*
Douglas Rushkoff is an author and though-leader. His most recent book is Life Inc. He is best known as the originator of the terms media virus, social currency, and digital natives, as well as for applying open source principles to government, religion, and economics.
Tara Hunt is the author of The Whuffie Factor which focuses on the importance of social capital in B2C relationships and pinpoints the rise of online communities as the force that makes social capital unavoidable for businesses going forward. Her next book discusses the the psychology and economics of happiness as the basis of your successful business model.
What are they talking about?
The basic premise is that there is a social economy that exists alongside our currency-based economy. Each person has (or lacks) social currency in the same sense that people have (or don’t have) paper currency.
Tara Hunt, one of the speakers, refers (rather incessantly) to social currency or capital as “whuffie.”
What makes a social economy?
As explained by the speakers, a social economy is the exchange of goods and services among individuals, rather than between individuals and corporations.
Doug calls this “reclaiming commerce as a human activity” and points out that commercial does not mean corporate. He described the rise of the corporation as a system of exploitation and gives the social economy as an alternative to outsourcing trade to corporations and banks.
What is social capital?
It was kind of hard to pluck a definition from the session, but you could think of it as your worth to others in non-dollar terms. It’s what you have to offer to the community – your expertise and participation.
Some rules of social capital from Tara:
- The inability to save social capital encourages reinvestment.
- The value of social capital increases as it circulates.
- The law of suckage says that social capital will attract the sucky [plagarizing] element that tries to monetize and detract from the quality of the original contribution to the social economy.
Doug adds that in order to create social capital you must contribute first-hand to the social economy. For example, franchises do not add original value and therefore have no, um, whuffie.
How do I know how much social capital I have?
You don’t. According to Tara, the “good thing” about whuffie is that it means something different to everyone. So, you can’t measure whuffie. You can’t compare it. You can’t cheat it. Don’t even try inflating your whuffie. It won’t work (unless you’re a talentless celeb with a great PR team).
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October 31st, 2009 at 5:03 am
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New blog post: Building the Social Economy [link to post]
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October 31st, 2009 at 5:06 am
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Building the Social Economy /The Relationship Economy……/ – This entry is part 13 of 13 in the series … [link to post]
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October 31st, 2009 at 5:27 am
[...] This post was mentioned on Twitter by JDeragon, Achievers Network. Achievers Network said: Building the Social Economy: Such “Thought Infrastructure” is essential to what will evolve into the next econo.. http://bit.ly/1t4dL1 [...]
October 31st, 2009 at 6:18 am
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October 31st, 2009 at 6:29 am
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Building the Social Economy [link to post] #news #socialmedia
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October 31st, 2009 at 6:36 am
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Building the Social Economy: Such “Thought Infrastructure” is essential to what will evolve into the next econo.. [link to post]
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October 31st, 2009 at 6:43 am
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Building the Social Economy [link to post]
Social-Media.alltop
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October 31st, 2009 at 12:49 pm
[...] paradigm. We hit given an Innovation Economy Built on Social Media platform. The rest is here: Building the Social Economy | The Relationship Economy…… Posted in Uncategorized | Tags: built, economic-paradigm-, evolve-into, friend, google-profile, [...]
October 31st, 2009 at 2:02 pm
[...] The rest is here: Building the Social Economy | The Relationship Economy…… [...]
October 31st, 2009 at 8:50 pm
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Building the Social Economy | The Relationship Economy……: Such “Thought Infrastructure” is essential to evo.. [link to post]
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October 31st, 2009 at 9:06 pm
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Building the Social Economy | The Relationship Economy……: Such “Thought Infrastructure” is essential to evo.. [link to post]
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October 31st, 2009 at 9:40 pm
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Building the Social Economy [link to post] #sCRM #PR #marketing
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November 1st, 2009 at 12:35 am
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RT @hkotadia: Building the Social Economy [link to post] #sCRM #PR | Interesting. Sure is a buzzword-packed first two paragraphs ; )
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November 1st, 2009 at 6:21 am
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RT @ingenesist @JDeragon Building the Social Economy [link to post]
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November 2nd, 2009 at 12:10 am
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