I feel fairly confident though that this argument doesn’t hinge too much on a particular technology such as IoT (as I see in the blurb). To unnecessarily recapitulate: something like the above argument on GDP falls out as the consequence of marginal costs being driven to zero. By whatever means, and relying only on micro 101 theory. In the limit, GDP will provide very little information about utility. There’ll be a lot of good, cool stuff in the world which will be free.
Jeremy Rifkin discusses this possibility in The Zero Marginal Cost Society
Might get hold of it and confirm my biases :D.
I feel fairly confident though that this argument doesn’t hinge too much on a particular technology such as IoT (as I see in the blurb). To unnecessarily recapitulate: something like the above argument on GDP falls out as the consequence of marginal costs being driven to zero. By whatever means, and relying only on micro 101 theory. In the limit, GDP will provide very little information about utility. There’ll be a lot of good, cool stuff in the world which will be free.