Reinventing Capitalism in the Age of Big Data - Hardcover

Mayer-Schönberger, Viktor; Ramge, Thomas

Hardcover

ISBN 10: 046509368X ISBN 13: 9780465093687

Publisher: Basic Books, 2018

Synopsis

From the New York Times bestselling author of Big Data, a prediction for how data will revolutionize the market economy and make cash, banks, and big companies obsolete
In modern history, the story of capitalism has been a story of firms and financiers. That's all going to change thanks to the Big Data revolution. As Viktor Mayer-Schönberger, bestselling author of Big Data, and Thomas Ramge, who writes for The Economist, show, data is replacing money as the driver of market behavior. Big finance and big companies will be replaced by small groups and individual actors who make markets instead of making things: think Uber instead of Ford, or Airbnb instead of Hyatt.
This is the dawn of the era of data capitalism. Will it be an age of prosperity or of calamity? This book provides the indispensable roadmap for securing a better future.

About this title

About the Author

Viktor Mayer-Schönberger is a professor at the University of Oxford and the coauthor, with Kenneth Cukier, of the bestselling Big Data.

Thomas Ramge is the technology correspondent of the business magazine brand eins and writes for The Economist.

Review

"Viktor Mayer-Schönberger and Thomas Ramge argue that big data will transform our economies on a fundamental level...Thought-provoking."―Science

"A thoughtful volume about the digital and data-driven future...Emphasizes the human choices and market and societal opportunities that data will enable."―Forbes

"Mayer-Schönberger and Ramge offer several intriguing ideas for limited the excesses of data-rich capitalism...These ideas won't get much of a hearing in today's Washington. But the shift toward an information-based economy will outlast the current administration. Eventually, this country will have a government interested in the best parts of modern capitalism while restraining the worst."―David Leonhardt, New York Times Book Review

"[One of] this year's best business books on technology and innovation"―James Surowiecki, Strategy + Business

"If this overall analysis is right, then we are going to have to start thinking more about such radical ideas. Data capitalism can deliver phenomenal services, as Amazon has shown. But it may also undermine some of the foundations on which our societies have been built."―Financial Times

"In 2013's Big Data, Viktor Mayer-Schönberger...described the necessity of using digital information to better connect with customers and train automated systems... Reinventing Capitalism in the Age of Big Data...expands that vision as dramatically as the title implies. Big data, the authors argue, is an omnipresent force that will create a new world--one in which large public companies may no longer be relevant at all."―Fortune

"Smoothly written and provocative, Reinventing Capitalism in the Age of Big Data is one of those rare pop future books that takes fundamental economics seriously... Viktor Mayer-Schönberger and Thomas Ramge argue that the data's rise means money's decline, that meaningful economic growth overwhelmingly depends on data innovation, and that regulating market competition requires rethinking data access."―F&D

"A welcoming and comprehensible narrative featuring interesting profiles of key personalities driving the Big Data revolution...The future marketplace of goods, services, and ideas will benefit from a wide readership of this instructive study."―Booklist

"An unnerving yet plausible portrait of a future in which 'finance capitalism will be as old-fashioned as Flower Power.'"―Kirkus

"Anyone interested in the future of business should read this fascinating book as soon as possible. By now it is conventional wisdom--thanks in no small part to Mayer-Schönberger's previous book--that big data will transform the way firms operate. Reinventing Capitalism in the Age of Big Data makes a compelling case that it will change the nature of the market itself. With brilliant insights, it explains how the shift from simple price signaling to data-rich preference matching will determine the winners and losers of the 21st century economy, and thoughtfully outlines steps to curb the excesses of this new environment."―Kevin Werbach, The Wharton School, University of Pennsylvania

Edition details

• Publisher: Basic Books
• Publication date: 2018
• ISBN 10: 046509368X
• ISBN 13: 9780465093687
• Binding: Hardcover
• Language: English
• Number of pages: 288