How Much Would You Need to be Paid to Give Up the Internet for Life?

Anonymous's picture
Submitted by Anonymous on Mon, 2011-08-01 05:37

A profound yet fun video about capitalism and all the things we take for granted about it.

It asks (and answers) an important question:

If we said that we'd only give up the Internet if we were paid a million dollars, then it means that our use of the internet is worth just slightly under a million dollars to us. Yet how much are we required to pay to get access to the net and use it on a daily basis? Almost nothing. How can something that's worth about a million dollars to us -- i.e., the amount we'd require to forego its use -- be made available to us, on a daily basis, for a few pennies?

This is the typical working of capitalism, the same "invisible hand" that brought us automobiles, jet travel, washing machines, television sets, computers, electric lightbulbs, smartphones, etc., all of which originally started out in their prototype days as "gimmicks for the rich" but which are now better, cheaper, and within reach of almost everyone.

An interesting video that manages to make some important points without sounding preachy or becoming lost in details of technical economics.

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