Routledge - The Economic Philosophy of the Internet of Things

Explore the fundamental shifts in the digital economy with The Economic Philosophy of the Internet of Things. Part of the Routledge Studies in the Economics of Innovation, this book examines the rise of ubiquitous computing systems (UCS) and their impact on economic modeling. To understand our modern landscape, one must investigate how these systems function. Based on the definitions provided by Robin Milner, a UCS is characterized by its ability to make decisions previously handled by humans, its massive scale, its capacity for online adaptation, and the way individual systems interact with one another. This text challenges traditional neoclassical approaches that rely on representative-agent models for optimal control. Instead, it offers a new way to view economic behavior within a world of interconnected, adaptive, and vast computing networks. It is an essential read for those studying the intersection of technology, innovation, and economic theory.