Which "Marketplace" Works Best? |

This entry is part 8 of 58 in the series Social Strategies

Markets represent consumption. If “consumption” changes then it is logical to assume that the marketplace is changing.

According to Wikipedia: A marketplace is the space, actual or metaphorical, in which a market operates. The term is also used in a trademark law context to denote the actual consumer environment, ie. the ‘real world‘ in which products and services are provided and consumed.

Is The Marketplace Changing?

The consumption of products and services from the “commons” is what fuels an economy. Without consumption the economy slows down and subsequently the activity of the “marketplace” is impacted. Umair Haque, from Harvard, writes “The commons can be managed from the bottom-up for a shared prosperity — given the right institutions. That conclusion challenges orthodox economics from both left and right leaning perspectives; it suggests that, yes, markets can organize production and consumption efficiently — but only when supported and nurtured by networks and communities.”

Notice Umair’s last statement: markets can organize production and consumption efficiently — but only when supported and nurtured by networks and communities.” The old marketplace has been supported and nurtured by “closed networks and communities” which are influenced by the few. However there is a “new marketplace” that is supported and nurtured by “open networks and communities” now influenced by the many.

A New Marketplace?

In case you haven’t noticed nearly every market globally has been disrupted by a “shift” in economic realities. The behavior of every market segment has changed. Again Umar Haque writes: The Zombieconomy isn’t a buzzword. It’s not an event. It’s not (really) about banks. It is the state of our economy today.

20th Century business is unable to grapple with the challenges of the 21st Century. Vast swathes of the economy are paralyzed and crippled: inhabited only by zombie companies. They are the economic living dead: unable to create authentic value.

Despite trillions in investment:

1) Wages are deflating.
2) Unemployment continues to grow.
3) Underemployment is growing faster than unemployment.

Zombie corporations are why the numbers above are happening. Those numbers mean: our so-called economy was a house of cards built on McMansions, Hummers, and $5 lattes. Now that the bill for them is coming due, we’re discovering just how radically unnovative they were.

Sounds to me like the old marketplace isn’t working very well. However there is indeed a new marketplace forming amongst the commons which is fueled by a new kind of economic influence, conversations. The new marketplace is being built by “uncommon thinking” rather than common thinking of the old marketplace.

How does it operate? Is it better than the old marketplace? Watch the video below and you decide.

About Jay:
Jay Deragon’s professional career includes providing strategic management consulting services to Fortune 500 companies as well as local small businesses. He has consulted with numerous industries spanning over 25 years of professional experience globally. His current professional endeavors are all centric to the disruptive nature of the social web. He writes at Relationship Economy and provides social media strategic services to businesses large and small. Jay Deragon is an avid student of the emerging landscape of all things social and the subsequent impact on business dynamics. Since 2004 Mr. Deragon has been actively studying, sharing and learning how business as unusual is changing business methods, models and relationships. Life is a journey and the experiences along the way provides learning that furthers the experiences if we know how and what to learn. for more info go here http://www.relationship-economy.com/?page_id=2

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