Revolutionary Wealth
Encyclopedia
Revolutionary Wealth is a book written by futurists Alvin Toffler
and his wife Heidi Toffler, first published in 2006 by Knopf
(ISBN 0-375-40174-1). It is a continuation of the 1980 The Third Wave
, which itself is a sequel to Future Shock
.
Revolutionary Wealth significantly expands on the Third Wave. As in the older volume, the book argues that institutions—public, private, and social—left over from an era of mass production are unsuited to a new civilization being built throughout the world. Only now, further detail is provided on what will constitute the Third Wave society.
Two important elements, absent from The Third Wave
, are (1) the explicit tie-in to Cyberspace and the surge of new technologies that have cropped up since the time of The Third Wave
(e.g. You Tube, social networking, cyber-economies, the Internet, itself, etc.), (2) the beginnings of an account of just what kind of economy may come to replace the monetary system.
The authors go as far as toying with the idea of a world without money, raising (probably for the first time) a third kind of economic transaction that is neither one-on-one barter nor monetary exchange. In the end, they settle on the idea that the newer non-monetary economy (the one first termed the “prosumer
economy” in the 1980 volume) will exist side-by-side with the monetary sector in the near term, though the latter may come to be eclipsed by the former over the long term.
Both the name of the book and the term “Deep Fundamentals” refer to the shifting of the much deeper layer that lies at the foundation of all monetary economies, both capitalist and socialist. What both The Third Wave
and Revolutionary Wealth call into question is the very premise of monetary exchange.
Other elements are brought up in the 2006 volume which were notably absent from the 1980 volume and even the 1990 sequel Powershift
. The question of world political unification is returned to: here, the authors make clear that the idea itself is not being dismissed, but rather the notion that such a unification will be a united states of the presently-existing nation-states. As they point out, there are other kinds of entities (religious organizations, NGO's, businesses, labor unions) that would have to be included in a world as heterogeneous as ours.
More significantly, the idea of a mass settlement into outer space is finally entertained.
Alvin Toffler
Alvin Toffler is an American writer and futurist, known for his works discussing the digital revolution, communication revolution, corporate revolution and technological singularity....
and his wife Heidi Toffler, first published in 2006 by Knopf
Alfred A. Knopf
Alfred A. Knopf, Inc. is a New York publishing house, founded by Alfred A. Knopf, Sr. in 1915. It was acquired by Random House in 1960 and is now part of the Knopf Doubleday Publishing Group at Random House. The publishing house is known for its borzoi trademark , which was designed by co-founder...
(ISBN 0-375-40174-1). It is a continuation of the 1980 The Third Wave
The Third Wave (book)
The Third Wave is a book published in 1980 by Alvin Toffler. It is the sequel to Future Shock, published in 1970, and the second in what was originally just a trilogy that was continued with Powershift: Knowledge, Wealth and Violence at the Edge of the 21st Century in 1990...
, which itself is a sequel to Future Shock
Future Shock
Future Shock is a book written by the futurist Alvin Toffler in 1970. In the book, Toffler defines the term "future shock" as a certain psychological state of individuals and entire societies. His shortest definition for the term is a personal perception of "too much change in too short a period of...
.
Revolutionary Wealth significantly expands on the Third Wave. As in the older volume, the book argues that institutions—public, private, and social—left over from an era of mass production are unsuited to a new civilization being built throughout the world. Only now, further detail is provided on what will constitute the Third Wave society.
Deep Fundamentals
Toffler looks at the many ways the "Third Wave" is revolutionizing our relationships to three "deep fundamentals" and, therefore, to wealth systems in general.- time relationships are being transformed with respect to the continually increasing amount of changes and synchronization required for businesses and individuals to accumulate wealth.
- space relationships are being transformed with respect to the former geographic limitations of market transactions. Never before has it been possible for businesses and individuals to accumulate wealth from around the globe with the ease that today's internet brings.
- knowledge relationships are being transformed with respect to availability. As Toffler states, never before have we been able to instantly access virtually unlimited amounts of any kind of information for virtually zero cost. Unlike the foundations of past wealth revolutions, the Third Wave's foundation defies traditional economics in that knowledge is not scarce; knowledge is infinite and exponentiates itself. An economy based on knowledge also defies classical economics due to the non-rivalRivalry (economics)In economics, rivalry is a characteristic of a good. A good can be placed along a continuum ranging from rivalrous to non-rival. The same characteristic is sometimes referred to as subtractable or non-subtractable . A rival good is a good whose consumption by one consumer prevents simultaneous...
property of knowledge.
Two important elements, absent from The Third Wave
The Third Wave (book)
The Third Wave is a book published in 1980 by Alvin Toffler. It is the sequel to Future Shock, published in 1970, and the second in what was originally just a trilogy that was continued with Powershift: Knowledge, Wealth and Violence at the Edge of the 21st Century in 1990...
, are (1) the explicit tie-in to Cyberspace and the surge of new technologies that have cropped up since the time of The Third Wave
The Third Wave (book)
The Third Wave is a book published in 1980 by Alvin Toffler. It is the sequel to Future Shock, published in 1970, and the second in what was originally just a trilogy that was continued with Powershift: Knowledge, Wealth and Violence at the Edge of the 21st Century in 1990...
(e.g. You Tube, social networking, cyber-economies, the Internet, itself, etc.), (2) the beginnings of an account of just what kind of economy may come to replace the monetary system.
The authors go as far as toying with the idea of a world without money, raising (probably for the first time) a third kind of economic transaction that is neither one-on-one barter nor monetary exchange. In the end, they settle on the idea that the newer non-monetary economy (the one first termed the “prosumer
Prosumer
Prosumer is a portmanteau formed by contracting either the word professional or less often, producer with the word consumer. For example, a prosumer grade digital camera is a "cross" between consumer grade and professional grade...
economy” in the 1980 volume) will exist side-by-side with the monetary sector in the near term, though the latter may come to be eclipsed by the former over the long term.
Both the name of the book and the term “Deep Fundamentals” refer to the shifting of the much deeper layer that lies at the foundation of all monetary economies, both capitalist and socialist. What both The Third Wave
The Third Wave (book)
The Third Wave is a book published in 1980 by Alvin Toffler. It is the sequel to Future Shock, published in 1970, and the second in what was originally just a trilogy that was continued with Powershift: Knowledge, Wealth and Violence at the Edge of the 21st Century in 1990...
and Revolutionary Wealth call into question is the very premise of monetary exchange.
Other elements are brought up in the 2006 volume which were notably absent from the 1980 volume and even the 1990 sequel Powershift
Powershift: Knowledge, Wealth and Violence at the Edge of the 21st Century
Powershift: Knowledge, Wealth and Violence at the Edge of the 21st Century is the third book in a trilogy written by the futurist Alvin Toffler, following on from Future Shock and The Third Wave. The hardcover first edition was published October 1, 1990. ISBN-10 0553057766....
. The question of world political unification is returned to: here, the authors make clear that the idea itself is not being dismissed, but rather the notion that such a unification will be a united states of the presently-existing nation-states. As they point out, there are other kinds of entities (religious organizations, NGO's, businesses, labor unions) that would have to be included in a world as heterogeneous as ours.
More significantly, the idea of a mass settlement into outer space is finally entertained.
External links
- Revolutionary Wealth preview at Google Books
- Description, excerpts from alvintoffler.net
- After Words with Alvin Toffler - interview with C-SPAN, BookTV