The Generative Nature of the Digital Economy and Its Challenge to Educators
Humans have lived with scarcity, despite occasional moments of abundance, through our entire existence. We have survived and are infinitely adapted to scarcity. But today, we struggle with material abundance, and are not doing well. We have so many cars that we are warming our planet; we have so much food that diet plans are best sellers; and, for those interested in knowledge, information streaks by constantly as if we are standing 2 feet from the side of a racing freight train. Because of the technology saturation moment that is called Web 2.0, we are struggling with an overwhelming flood of uncategorized information and uncertified sources of knowledge.
Behind this phenomenal turnaround in the human condition over the past half century is a very simple change: from a culture centered on energy that degrades from the moment it is generated (heat through pipes, electricity over wires, explosions in the pistons of automobiles) to a culture centered on energy generation that then produces more energy. From degenerative energy production to generative energy production. No, not nuclear fission. The principle of generative energy production that so defines our time relies instead on memes, a cultural unit similar to a physical gene in determining how potential plays out.
A dollar bill is a meme. The bill is only a small piece of cotton-linen-silk worth a few pennies; and the idea of a dollar unit of value as expressed in numbers in bank statements or investment portfolios is even more obviously based just on a culturally shared faith. The one dollar meme is a belief that the value of the dollar bill or the number representing a dollar is real, and that others will also accept it as real. The more that this idea is shared every day, the more dollars there are, so the energy behind this idea about a dollar is generative: The more you share the idea, the more total ideas (dollars) you have.
As velocity of exchange increases (more people spending their beliefs about the value of a dollar to get new shoes), the total wealth in the society increases. In this sense, we could think of financial exchanges as "social sites:" The New York Stock Social Site.
Economies depend on the generative energy of ideas and beliefs. But how does this principle apply in our centers of learning? How do we create value from the generative exchange of ideas, which is now the primary driver of our culture, in higher education? In previous centuries, oral traditions and print conquered distance and time so that human knowledge could be spread and preserved, but the power of idea generation in those past times seems now to have been running in slow motion. Digital technologies have added the dimension of velocity to the dimensions of distance and time. Now ideas are "exchanged" so rapidly on the Web that our knowledge wealth has grown by orders of magnitude to the point of surfeit.