Radical new economic system will emerge from collapse of capitalism

Political adviser and author Jeremy Rifkin believes that the creation of a super internet heralds new economic system that could solve society’s sustainability challenges.

This is the belief of political adviser and author Jeremy Rifkin, who argues the current economic system has become so successful at lowering the costs of production that it has created the very conditions for the destruction of the traditional vertically integrated corporation.

Rifkin, who has advised the European Commission, the European Parliament and heads of state, including German chancellor Angela Merkel, says:

No one in their wildest imagination, including economists and business people, ever imagined the possibility of a technology revolution so extreme in its productivity that it could actually reduce marginal costs to near zero, making products nearly free, abundant and absolutely no longer subject to market forces.

Jo Confino

Full Story: http://www.theguardian.com/sustainable-business/2014/nov/07/radical-new-economic-system-will-emerge-from-collapse-of-capitalism