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<DIV><FONT size=5>The Center for Popular Economics</FONT> <BR><FONT
size=3>invites you to join us at</FONT><BR><BR><FONT size=4>The Montague Book
Mill <FONT size=2>(directions below)</FONT></FONT></DIV>
<DIV><BR><FONT size=4>on November 10, 2005</FONT> <BR><FONT size=3>from 6:30 to
8:30 p.m.</FONT><BR><BR><FONT size=4>Sam Bowles, <FONT size=2>a founding member
of CPE and the author of </FONT>
<DIV><FONT size=2>"The Moral Sentiments and Material Interests: </FONT></DIV>
<DIV><FONT size=2>The Foundations of Cooperation in Economic
Life,"<BR></FONT></DIV></FONT></DIV>
<DIV>will be presenting a talk on </DIV>
<DIV>public versus private knowledge in the information age</DIV>
<DIV>entitled, </DIV>
<DIV><FONT size=3>"The future of the weightless economy: </FONT></DIV>
<DIV><FONT size=3>the invisible hand or the communism of
ideas" <BR></FONT>(see abstract below)<BR> </DIV>
<DIV>We look forward to seeing you there!</DIV>
<DIV>====================================================</DIV>
<DIV> </DIV>
<DIV><FONT size=4>Abstract:</FONT></DIV>
<DIV>The Weightless Economy: Invisible Hand and the Communism of Ideas<BR>Samuel
Bowles<BR>Center for Popular Economics, Santa Fe Institute and University of
Massachusetts<BR><BR>Why are good ideas like antelopes? For most of human
history – the first 90,000 years of it at least – valuable resources such as
large game were difficult to own individually and as a result when captured,
they were shared. The emergence of agriculture 11,000 years ago allowed for the
evolution of the modern idea of individual property rights in land, domesticated
animals, goods and other valuable contributions to our livelihood.<BR>But the
economy of grain and steel is being displaced by the economy of ideas and
information. In the new weightless economy most goods cannot be weighed,
measured, or fenced. Good ideas are indeed like the large game that once formed
a major part of our subsistence: the pursuit of a new operating system, a new
drug, or a hit tune is uncertain, and when the hunt is succ! essful, it is not
only wasteful not to share the prey, it is often impossible to prevent it from
being stolen.<BR>I provide a history of the long term development and
transformation of property rights drawing on recent behavioral experiments in
hunter gatherer societies. I also use computer simulations of how systems of
property rights might respond to the challenges of the weightless economy. Will
the reform of intellectual property rights succeed in domesticating the
antelope? Or will innovations like Linux and Napster foster a new communism of
ideas?</DIV>
<DIV><BR><FONT size=3>Directions to the Book Mill:<BR></FONT><BR>From Amherst:
<BR>Take Route 63 north eight miles, to the Montague Center exit (junction with
<BR>Route 47). Take a left and go to the stop sign (200 yards), then take
a <BR>right. Go through Montague Center, bear left past the village green
and <BR>continue 1/4 mile to a small bridge. The Mill is on the
left.<BR><BR>From Northampton and points south:<BR>Take 91 North to exit 24.
Make a right off the exit onto Routes 5 &10 north; <BR>right at the
lights onto Rte 116. In Sunderland Center go left at the lights <BR>onto
Route 47, follow about eight miles, go through Montague Center, bear left
<BR>past the village green and continue 1/4 mile to a small bridge. The
Mill is on <BR>the left.<BR><BR>From Greenfield and points west:<BR>Rte. 91
south to Rte. 2 east to Turners Falls. At the lights by the Turners <BR>Falls
Bridge (Gas station across on your left) go right, cross bri! dge, then <BR>left
onto 1st street after the bridge past the Town Offices and Police Station.
<BR>Go up the hill to end, turn left, go up hill, go past Scotty’s Market, then
<BR>right fork onto Turners Falls Road. Follow this into Montague about 5 miles
- <BR>the Bookmill will be on your right.
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