In case you missed it, Wired Magazine claims in a section on trends driving the economy, people power (read: blogging, word of mouth) is the number one force driving the current resurgence in Internet related commerce.

Labeling it “peer-production”, the theory goes that today’s netizens are creating a massive workforce that is working for free, spreading word of mouth about products, services and the like. The unbridled explosion of online opinion outlets has created a marketing machine that doesn’t even realize it is hard at work overtaking worn out forms of advertising.

“Today’s peer-production machine runs in a mostly nonmonetary economy. The currency is reputation, expression, karma, “wuffie,â€? or simply whim…This isn’t amateurs versus professionals; it’s each benefiting the other.”

Read for yourself here.

This entry was posted on Wednesday, August 9th, 2006 at 6:53 pm and is filed under iKarma. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.