what is the meaning of "where market are conversations"

[sbchan]

In an article of the November Fortune Magazine, I read a sentence "Marxism-Leninism fails to compete in a knowledge economy, where markets are conversations". What is 'conversations' in here meant? Does it mean the markets are sharing information?

[MikeNewYork]

Originally Posted by sbchan

In an article of the November Fortune Magazine, I read a sentence "Marxism-Leninism fails to compete in a knowledge economy, where markets are conversations". What is 'conversations' in here meant? Does it mean the markets are sharing information?

This appears to be an analogy between a financial market (money economy) in which capital is traded and a conversation (knowledge economy) in which knowledge is traded. I'm not sure I get the point.

[BobK]

Originally Posted by MikeNewYork

This appears to be an analogy between a financial market (money economy) in which capital is traded and a conversation (knowledge economy) in which knowledge is traded. I'm not sure I get the point.

I think the point is obscured by the Fortune writer's euphemistic 'fails to compete' - by which I think he really means 'doesn't work'. I also think he (well there aren't that many money pundits who are women) is asking a bit much of the reader, in the words 'markets are conversations' - meaning 'conversations (whether face to face or electronic) take the place of markets': putting the words in the original order requires extraordinary mental agility in interpreting the phrase.

I agree with Mike's analysis, but I think the point becomes fairly clear if you mull the words over for a bit - I just don't think it's very well written.

b

[curmudgeon]

Originally Posted by BobK

I think the point is obscured by the Fortune writer's euphemistic 'fails to compete' - by which I think he really means 'doesn't work'. I also think he (well there aren't that many money pundits who are women) is asking a bit much of the reader, in the words 'markets are conversations' - meaning 'conversations (whether face to face or electronic) take the place of markets': putting the words in the original order requires extraordinary mental agility in interpreting the phrase.
I agree with Mike's analysis, but I think the point becomes fairly clear if you mull the words over for a bit - I just don't think it's very well written.
b

Where the market is information would be better. (knowledge = information,I'm not sure if conversation means the same)

[BobK]

Originally Posted by curmudgeon

Where the market is information would be better. (knowledge = information,I'm not sure if conversation means the same)

I'd prefer '...the market is in information', or 'where conversations constitute the market'. And conversation definitely doesn't mean the same as information (nor does knowledge, but let's not quibble )

b

[sbchan]

This sentence actually is a quote of Ross Mayfield, CEO and cofounder of Socialtext. Did he mean that in a kowledge econnomy the markets has to exchange a lot of information and since the Commumism like to control the free flow of the information which made their failure in the competition.

[BobK]

Originally Posted by sbchan

This sentence actually is a quote of Ross Mayfield, CEO and cofounder of Socialtext. Did he mean that in a kowledge econnomy the markets has to exchange a lot of information and since the Commumism like to control the free flow of the information which made their failure in the competition.

I think what you say is true, but I don't think it's what Ross Mayfield meant. I think that a knowledge economy depends on payment (sometimes payment in kind - barter) for information. You have some information that I want; and I have some information you want, so we converse (in some way). The way we thrive economically depends on that sort of exchange; and exchanges like that constitute a market (sometimes regulated, sometimes not). I think he's saying that Marxism/Leninism is no good at analysing that sort of market.

b