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« Human battering rams | Main | real good for free »

Welcome to the hobby economy

Economists don't know what to do about it.

It's hard to measure, hard to quantify and a little odd to explain.

More and more people are spending more and more time (and money) on pursuits that have no pay off other than satisfaction.

"Why should you have a blog?" they ask. "How are you going to make any money?"

"Why post your photos on flickr?" they wonder. "You don't get compensated by people who see them." Or your garage band's songs on an MP3 site. Or spending time and money on projects like: The Basket Book: Over 30 Magnificent Baskets To Make and Enjoy.

Of course, economists don't really worry about this. They understand perfectly well that economics is able to easily explain that human beings pursue things that satsify them.

What the web is doing, though, is exposing lots of avenues for people to use to find satisfaction (but not necessarily cash). Make magazine is page after page of geek projects that are fun, but not profitable. Other sites make it easy for you to build a tube amplifier or splice your own DNA.

Now that white-collar workers regularly spend 75 hours a week at work (did you know the CEO of GE has been spending more than 100 hours a week--for twenty years?!) there's plenty of time to surf the web and get paid for it.

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Listed below are links to weblogs that reference Welcome to the hobby economy:

» Why we do the things we do... from ReveNews - Tim Storm
I came across Seth Godin's post: Welcome to the hobby economy It reminded me of a recent book quote that I thought a bit on the profound side of the mind... In time we came to believe that the essence... [Read More]

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» Spend time and don not get paid. Why? from Trendgevoelig
Seth has some good thoughts abbout why the ecenomy is changing: Economists don't know what to do about it. It's hard to measure, hard to quantify and a little odd to explain.More and more people are spending more and more time (and money) on pursui... [Read More]

» GDP doesnt work from nathanhollis.org
More thoughts on the limitations of economics. We seem to take GDP as the proxy for welfare, yet I always think it seems so far off reality. It seems to me as though income will be less and less important in society as the priorities change t... [Read More]

» Hobby Economy from Next2us Blog
Seth Grodin has post today about how economist can quantify hobby economy as people do things other then for money. I would guess that most people do things like me -- dream that their avocation may grow into their vocation [Read More]

» Hobby Economy from TellTail Signs
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» The Casual Web and Hobby Economy from Mostly Muppet Dot Com
There are many monikers for the changing face of the internet here at the end of 2005: Web 2.0 Consumer Generated Media WEdia Immedia Those are all well and gone (hey, Ive blogged them all previously) but now other folks outside of the blogge... [Read More]

» The Energy of Everyone from Market Anomaly
While living in Boston, San Francisco, and now New York, Ive notice that what makes economies vibrant and alive is not merely money. Life is made vibrant by all those people who are willing to go out there and do their thing for little or no mo... [Read More]

» ホビー経済 from Zopeジャンキー日記
セス・ゴーディンが、「ホビー経済」について書いている。 Seth's Blog - Welcome to the hobby economy http://sethgodin.typepad.com/seths_blog/2005/11/welcome_to_the_.html <More and more people are spending more and more time (and money) on pursuits that have no pay off other ... [Read More]

» Made in Hobbylands from Blogrolle.net
Die 50 wichtigsten Menschen: Du bist die Nummer 1: Youor rather, the collaborative intelligence of tens of millions of people, the networked youcontinually create and filter new forms of content, anointing the useful, the relevant, and th... [Read More]

« Human battering rams | Main | real good for free »